Trade Deficit Sets Record!

From the WSJ, Trade Deficit Widened 11% As Exports Fell, Imports Rose By Jeff Bater.

The U.S. trade imbalance ballooned 11% during September, setting a record as sales of civilian aircraft plunged while purchases of natural gas and consumer goods climbed.The Commerce Department reported Thursday that the U.S. deficit in international trade of goods and services widened to $66.11 billion from a revised $59.35 billion in August. Exports fell 2.6%, while imports rose 2.4%, pushing the September trade gap way above expectations — economists polled by Dow Jones Newswires and CNBC had forecast a deficit of $61.20 billion. (emphasis added)

And you thought the government was telling you the truth about inflation. Get this:

The import-prices report showed that external inflationary pressures on the economy decelerated in annual terms. Prices were up 8.1% in October from a year ago, down from the 10.2% year-on-year rise in September. Petroleum prices were up 30.9% from a year ago, down from the 52.2% gain in September.

Got gold?

trade deficit mover mike

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