Semi-truck trailers are shown at the Port of Long Beach in this aerial photograph taken above Long Beach, California August 5, 2015. REUTERS/Mike Blake
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The U.S. trade deficit increased more than expected in October, hitting a nine-month high as rising oil prices helped to boost the import bill, suggesting that trade could be a drag on growth in the fourth quarter.Goods imports were the highest since May 2014 amid a $1.5 billion increase in crude oil imports.Exports of goods and services were unchanged at $195.9 billion in October as shipments of soybeans fell $1.4 billion and civilian aircraft dropped by $1.1 billion. Exports of industrial supplies, however, increased by $2.6 billion to their highest level since November 2014 and petroleum exports were the strongest in three years.The trade deficit with Mexico surged 15.9 percent to $6.6 billion.
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