US: Expect a trade deficit of $46.4bn in October - Nomura

Analysts at Nomura are forecasting a trade deficit of $46.4bn in October for US economy, somewhat wider than September’s $43.5bn deficit.

Key Quotes

“In an advanced report, the goods trade deficit widened to $68.3bn in November, driven by a sharp deceleration in foods, feeds & beverages exports. We expect that this will translate into a widening overall trade deficit in October. However, part of the widening goods trade deficit in October could have been driven by seasonal factors and commodity prices. Thus, the widening total trade deficit in October could revert the next month.”