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From Times Staff and Wire Reports

Administration Says Trade Deficit Will Worsen: Treasury Under Secretary David Mulford, testifying to Congress on the Administration’s semiannual trade and exchange rate report, said the merchandise trade deficit was likely to widen by $5 billion to $10 billion next year as sluggish world demand dampens American export growth. Mulford said the Administration was expecting this year’s deficit to drop to $65 billion. That forecast, which is in line with private economists’ expectations, would represent a decline from last year’s $101.7-billion trade deficit and mark the first time since 1984 that the deficit has been below $100 billion.


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