Thursday, December 11, 2008

International Trade Slows in October

The BEA reported:

In October, the goods deficit increased $0.3 billion from September to $69.8 billion, and the services surplus decreased $0.4 billion to $12.6 billion. Exports of goods decreased $3.0 billion to $104.8 billion, and imports of goods decreased $2.7 billion to $174.6 billion. Exports of services decreased $0.3 billion to $46.9 billion, and imports of services were virtually unchanged at $34.3 billion.

In October 2008, the goods and services deficit increased $0.9 billion from October 2007. Exports were up $7.6 billion, or 5.3 percent, and imports were up $8.5 billion, or 4.2 percent.