U.S. trade deficit in goods climbs to three-month high of $91.5 billion

The numbers: The trade deficit in goods rose 2% in January to a three-month high of $91.5 billion, reflecting high inflation as well as a steady U.S. appetite for new cars, food and consumer goods.

The trade gap in goods increased from $89.7 billion in the final month of 2022, the Census Bureau said. Big picture: The trade deficit has set fresh records for three years in a row, but it’s on track to narrow for the first time since 2019. Key details: Imports of goods rose 3.4% to $265.3 billion in January. Auto imports posted an unusually strong increase. Food imports also rose, largely due to higher prices.

“An appetite for…. Food?.” Haha

Guys, anyone has info about _that defi bot everybody's talking about!

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Source: Reuters - 🏆 2. / 97 Read more »