The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, advised that the goods and services deficit for October 2017 was $48.7 billion compared to $44.9 billion, up $3.8 billion. Exports for October were $0.1 billion from September to $195.9 billion, while imports were valued at $244.6 billion, up $3.8 billion compared to September 2017.
The increase in the goods and services deficit was traced to an increase in the goods deficit of $3.8 billion to $69.1 billion and a decrease in the services surplus of less than $0.1 billion to $20.3 billion. According to the Bureau, “Year-to-date, the goods and services deficit increased $49.1 billion, or 11.9%, from the same period in 2016. Exports increased $97.5 billion or 5.3%. Imports increased $146.6 billion or 6.5%.”
Goods and Services Three-Month Moving Averages
the average goods and services deficit for the three months ended October increase to $46 billion by $1.2 billion. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis noted, “Average exports of goods and services increased $0.8 billion to $195.2 billion in October. Average imports of goods and services increased $2.0 billion to $241.2 billion in October.”
The average goods and services deficit year over year rose $5.1 billion from the quarter ended October 20116. Of this average export of goods and services climbed $8.2 billion from October 2016, while average imports for the corresponding period rose $13.2 billion.
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