Trade Deficit in the U.S. Widens as Exports Slump

The trade deficit in the U.S. widened in October as the biggest slump in exports in almost four years outweighed a drop in imports, evidence of the slowdown in global growth.

The trade gap grew 4.9 percent to $42.2 billion from a revised $40.3 billion in September that was smaller than previously estimated, the Commerce Department reported today in Washington. The median forecast in a Bloomberg News survey of 70 economists called for the deficit to expand to $42.7 billion. Exports declined 3.6 percent, the most since January 2009.