U.S. trade deficit rises slightly

The U.S. trade deficit inched up in January, according to the Department of Commerce. The goods and services deficit increased 0.6% to $58.2 billion from December’s $57.9 billion. Exports for the month were up $2.4 billion from December to $148.2 billion while imports rose $2.7 billion to $206.4 billion. The goods and services deficit was up $0.8 billion from the year-ago period with exports up $21.1 billion, or 16%, and imports up $21.9 billion, or 11.9%. Civilian aircraft exports fell $679 million for the month but remained the largest U.S export in January. Imports — mostly in the form of industrial supplies and materials — rose $3.8 billion in January from the previous month.