Economic news

U.S. trade deficit touches nine-month peak

The U.S. trade deficit rose above forecasts in October, touching a nine-month peak as growing crude prices helped to boost the value of imports, suggesting that trade could support growth in the fourth quarter.

The imbalance in trade widened 8.6 percent to $48.7 billion, its top since January, the Commerce Department reported on Tuesday.

Imports of goods and services climbed 1.6 percent to a record high of $244.6 billion in October. Goods imports were at their top since May 2014 amid a $1.5 billion raise in crude oil imports.

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