By Yuka Hayashi 

WASHINGTON -- The U.S. trade deficit widened in October as exports and imports rose for a fifth straight month, reflecting a continued recovery in global commerce from the impact of the coronavirus pandemic.

The U.S. posted a deficit of $63.1 billion in October, compared with $62.1 billion in September, the Commerce Department said Friday. The figures were adjusted for seasonal variations.

Economists polled by The Wall Street Journal had forecast a $64.8 billion deficit in October.

Exports rose 2.2% to $182.0 billion from the previous month, while imports rose 2.1% to $245.1 billion.

Global trade has recovered more quickly than economists expected since widespread lockdowns were imposed in March and April. Trade may start slowing again as winter approaches and governments impose renewed restrictions in response to a surge in coronavirus cases.

 

(END) Dow Jones Newswires

December 04, 2020 08:54 ET (13:54 GMT)

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