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U.S. trade deficit scales nine-month high; oil prices lift imports

Reuters  |  WASHINGTON 

By Lucia MutikaniWASHINGTON (Reuters) - The U.S. trade deficit increased more than expected in October, hitting a nine-month high as rising oil prices helped to boost the import bill, suggesting that trade could be a drag on growth in the fourth quarter.The Commerce Department said on Tuesday the trade gap widened 8.6 percent to $48.7 billion. That was the highest level since January and followed an upwardly revised $44.9 billion shortfall in September.Economists polled by Reuters had forecast the trade deficit widening to $47.5 billion in October after a previously reported $43.5 billion ...

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First Published: Tue, December 05 2017. 20:00 IST