The U.S. trade deficit rose 16% on a year earlier in January, and at $57 billion (including goods and services) it was the highest since October 2008. While mostly due to a surge in goods imports – as in previous months – there was also a 2% contraction in the services surplus. That was the result of a 15% rise in imports of financial services and other business services (e.g. call-centers) that were in part a reflection of the expanding economy. There may be a temporary worsening in February due to the Olympic games – expressed via the intellectual property imports line – that added $1....