The US trade deficit surged 34.0% MoM to $131.4 billion in January, above expectations of a $127.4 billion reported deficit.

• The goods trade deficit was $156.7 billion, surpassing the advance estimate of $153.3 billion.
• Exports increased 1.2% MoM led by capital goods exports up $4.2 billion and consumer goods exports up $1.7 billion.
• Imports jumped 10.0% MoM led by industrial supplies & materials up $23.1 billion and consumer goods imports up $6.0 billion.