- The U.S. trade deficit grew to a record $68.9 billion in October, as crude oil prices surged and exports dropped by the most in four years. U.S. exports were up 1.6% in October to $107.5 billion and imports were up 2.7% to $176.4 billion.
- The Business Roundtable's Economic Outlook Index improved to 101.4, up from Septembers 88.2
- The U.S. Department of Energy said that:
Supplies of crude oil were up 900,000 barrels to 321.2 million barrels.
Supplies of unleaded gasoline were up 1.8 million barrels
Supplies of heating oil supplies were down 400,000 barrels..
- Japan's Tankan index, a confidence index of large manufacturers, increased from 19 to 21 in the fourth quarter, the highest in twelve month.
- Delinquencies on U.S. home mortgages rose in the third quarter due to the displacement of people by Hurricane Katrina but they fell from a year earlier as the economy improved, an industry group said on Wednesday.
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