Trade deficit soarsThe U.S. trade deficit surged to $26.54...

BUSINESS DIGEST

December 01, 1992

Trade deficit soars

The U.S. trade deficit surged to $26.54 billion from July through September, the worst performance in nearly two years, the government said yesterday. Although American companies exported a record amount of goods, they were swamped by an even-faster rise in imports, the Commerce Department said.

The 8.1 percent rise in the trade gap followed a 42.6 percent increase in the April-June quarter, when the deficit had zoomed to $24.56 billion. For the July-September quarter, exports rose by 3.1 percent, to an all-time high of $110.81 billion. However, imports rose at a 4 percent clip, to $137.35 billion, also a record. The trade deficit is the gap between imports and exports.

Positive indicator

The Chicagoland Business Barometer rose to a seasonally adjusted 54.2 percent in November from 49.7 percent in October. The index is viewed as an important early indicator for the manufacturing segment of the national economy.

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