US trade deficit hits 10-year high

The US trade deficit widened for a fifth consecutive month and reached a 10-year high in October, according to official data. The total trade gap increased 1.7 percent to $55.5 billion in October, spurred by an all-time high for imports, according to data from the US Commerce Department. Imports of goods and services increased $0.6 billion, or 0.2 percent compared with the previous month, in October to $266.5 billion.