• Export growth eases while import gain accelerates.

The advance estimate of the U.S. trade deficit in goods deepened to $80.29 billion during October from September's $79.36 billion, revised from $80.7 billion. The Action Economics Forecast Survey expected an $81.0 billion deficit. Exports grew 2.8% (-7.5% y/y) after a 3.2% September rise while imports rose 2.2% (1.9% y/y) following no change during September.

Exports of nonauto consumer goods exports increased 6.1% (-3.4% y/y) and capital goods rose 3.9% (-12.9% y/y). Exports of industrial supplies & materials improved 3.9% (-8.8% y/y) while auto exports edged 0.5% higher (-5.1% y/y). Offsetting these increases, foods, feeds & beverage exports fell 4.4% (+17.5% y/y).

Imports of autos increased 3.2% (10.2% y/y) while nonauto consumer goods imports gained 2.2% (9.1% y/y). Imports of industrial supplies & materials gained 3.1% (-9.1% y/y) while capital goods imports rose 2.4% (1.3% y/y). Working the other way, imports of foods, feeds & beverages declined 1.3% (+6.8 y/y).

The advance international trade data can be found in Haver's USECON database. The expectation figure is from the Action Economics Forecast Survey, which is in AS1REPNA.

Note: Current month is based on Advance Trade data; Previous months reflect revised data from International Trade release.