Trade Deficit Hits All-Time High

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The trade deficit soared to a record in September as recent hurricanes helped push America’s foreign oil bill to an all-time high. The politically sensitive deficit with China also set a record.


The Commerce Department reported Thursday that the deficit jumped to $66.1 billion in September, 11.4 percent higher than the $59.3 billion imbalance recorded in August. It was a far bigger increase than analysts had been expecting and reflected a record $23.8 billion in oil purchases as the price skyrocketed, reflecting widespread shutdowns of production facilities following hurricanes Katrina and Rita.


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