**MNI: 5 Things We Learned From The October Trade Data>

By Kevin Kastner, Holly Stokes, and Sara Haire

     WASHINGTON (MNI) - The following are the key points from the 

October international trade report released by the Commerce Department 

Tuesday:

     - October trade deficit widened to -$48.7b vs -$47.5 expected, as 

imports were a record high $244.6b, while the September gap was revised 

wider to -$44.9b from prev -$43.5b. 

     - The chained goods trade data suggest a drag on 4Q GDP compared 

with a narrower gap in 3Q, as the October gap widened signficantly from 

the 3Q average. The data in November may reverse this trend.

     - The BOP goods gap widened to -$69.1b in October, while the census 

goods gap widened to -$68.1b vs -$68.3b in the advance estimate. 

     - Ex-petroleum, the goods gap widened to -$64.9b from -$60.1b, but 

the petroleum gap narrowed to -$3.2b from -$3.9b in September, though 

both exports and imports rose due to a jump in prices. 

     - The very small decline in exports was driven by soybeans and 

civilian aircraft, while the jump in imports primarily reflected crude 

oil and an influx of cell phones due to the new iPhones.

     ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MAUDS$,M$U$$$,MAUDR$]