Trade Deficit Hits $33.1 Billion

The U.S. foreign trade deficit surged to a record $33.1 billion from July through September, as imports continued their steady climb while agricultural exports hit their lowest level in more than six years, the government reported today.

The new report on merchandise trade confirms parallel figures released two weeks ago which showed an even larger $38.3-billion deficit. The new report shows a lower deficit because it omits such factors as military sales and the costs of shipping and insurance.