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For October, the Census Bureau reported the trade deficit widened by 2.5 percentage points, with exports down 1.0% and imports up 1.5%.

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From a year ago, exports are up 5.5% and imports are up 7.1%.

In US dollar terms, the October deficit is $68.3 billion, up from $64.1 billion in September, an increase of 6.5%.

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These numbers will subtract a couple ticks from fourth-quarter GDP estimates. They will also have Trump howling about trade deficits.

Mike "Mish" Shedlock