US trade deficit down, up against China
13 December 2006
The US trade deficit fell to a 14-month low in October but the trade gap with China reached new heights, AFP reported. According to US government data, the deficit in goods and services fell from US$64.3 billion in September to US$58.9 billion in October. The decline of 8.4% in one month was the largest since December 2001, while the monthly dollar deficit figure was the lowest since August 2005. However, the US trade deficit with China jumped 6.1% to US$24.4 billion in October. The deficit with China accounts for 41% of the country's total. AFP said US retailers and consumers splurged on cheap Chinese goods in the run-up to the holidays.
