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he U.S. trade deficit grew 4.5% in January to the second-highest monthly level ever, the Commerce Department said Friday.
Imports outpaced exports by $58.3 billion for the month, second only to November’s trade gap of $59.4 billion, Commerce reported.
The level exceeded analysts’ forecasts of a $56.8 billion deficit, Bloomberg reported. December’s trade gap was $56.4 billion.
Imports rose 1.9% to $159.1 billion, while exports climbed 0.4%, a second straight increase, to $100.8 billion.
Imports of consumer goods rose 6% to $34.6 billion, the highest ever, with gains in electronics and household goods.
Many such goods come in to West Coast ports and feed into trucking and intermodal systems in the United States.
Transport Topics