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ECONOMY

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From Times Staff and Wire Reports

Trade Deficit Grew to $10.14 Billion in October: The expanding gap puts the United States on track for its second-worst trade year in history, as a rush of Japanese imports sent the deficit with that country to an all-time high. A Commerce Department report showed that the deficit in goods and services climbed 8.4% from a revised $9.35-billion September figure. U.S. imports rose for a sixth straight month to $69.84 billion, the highest ever, as faster economic growth stimulated appetites for foreign products. Exports, hurt in October by a drop in sales of civilian aircraft, fell 1.6% to $59.70 billion. The deficit in goods is running at an annual rate of $150.2 billion this year, only slightly below the record of $152.1 billion set in 1987. After Japan, the biggest deficit was with China, an imbalance of $3.48 billion, up 26.8%. In addition, the United States posted a rare deficit of $89 million with Mexico.

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