US trade deficit surges to second-highest level ever

WASHINGTON - The US trade deficit rose to its second-highest level ever in January to stand at 58.3 billion dollars, up 4.7 percent from the month before, the Commerce Department said Friday.
The figure surprised market watchers, whose consensus forecast for the January shortfall in goods and services was 56.8 billion dollars.
The December figure was revised down to 55.7 billion dollars, compared with the record-high deficit of 59.3 billion seen in November.
In January, imports rose 1.9 percent to a record 159.1 billion dollars, while exports gained 0.4 percent to a record 100.8 billion, the Commerce Department said.

03/11/2005 13:43 GMT