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US trade gap broadens in October on all-time record imports
[WASHINGTON] The United States imported a record amount of goods and services in October, broadening the trade gap to its highest level in nine months, according to government data released Tuesday.
The trade deficit increase was pushed by rising oil prices, as well as higher imports from China ahead of the holiday shopping season, the Commerce Department said in its monthly report.
Boosted by a weaker US dollar, the October trade gap rose 8.6 per cent compared to September, to US$48.7 billion, the highest since January, surpassing analyst expectations for an increase of only 5.6 per cent.