By Greg Robb
WASHINGTON (MarketWatch) -- The U.S. trade deficit widened 16.5% in January to $44.4 billion, reversing much of a narrowing in the prior month, the Commerce Department said Thursday. The January trade deficit was above the consensus forecast of Wall Street economists of a deficit of $42.4 billion. Exports slumped 1.2% in January to $184.5 billion while imports jumped 1.8% to $228.9 billion, led by an increase in crude oil imports. The U.S. trade deficit with China widened to $27.8 billion in January compared with $26.0 billion in the same month last year. The weak European economy continued to weigh on U.S. exports to the region. U.S. exports to the euro-area were down 2.2% on a year-on-year basis.
