The US trade deficit widened 1.1% in October from the prior month to $57.2 billion, according to seasonally adjusted Commerce Department data published today.
The increase in the trade gap confounded most analysts' expectations of a drop to $53.5 billion.
Trade volume fell 1.7% in October, with declines in both imports and exports. The politically sensitive trade deficit with China increased marginally to $28 billion in October from $27.8 billion the previous month.
Meanwhile, the number of US workers filing new claims for jobless benefits surged to a 26-year high last week. Initial claims for state unemployment insurance benefits jumped last week by 58,000 to 573,000, suffering the biggest increase since September 2005, the Labor Department said. It was the highest reading since November 1982.
