The U.S. trade gap widened by 4.4% to $52.6 billion in January. This is the third consecutive month of widening and the largest it has been since October 2008. The real goods balance widened by less, to $49.1 billion from $48.3 billion.
Both imports and exports grew in January, however, imports grew more quickly. Imports grew by 1.3% to $233 billion, while exports improved by 1.1% to $180 billion.
The goods deficit widened in January by $2.5 billion. This led the three month goods deficit to widen by $9 billion, the largest three-month period since 2005.
Read the report.