WASHINGTON: The US trade deficit widened sharply in November, posting its highest level in seven months amid a jump in consumer-goods imports, according to Department of Commerce data released on Friday.
The US trade deficit expanded to $48.7 billion, up from a revised $42.1 billion in October. November US exports were $1.7 billion more than October exports, while November imports were $8.4 billion above the October level.
The trade deficit was well above analyst forecasts of $41.8 billion.
The jump in imports was especially pronounced in consumer goods (up 11.1 percent) and automobiles (up 6.3 percent). US spending on oil imports fell due to lower oil prices.
The US closely-watched trade gap with China fell to $29 billion in November from the October level of $29.5 billion.
Lower oil prices translated into a lower deficit with the Organisation of Petroleum Exporting Countries, which fell in November to $6.6 billion from $8.6 billion in October.
- AFP/de
US trade deficit widens sharply in November
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US trade deficit widens sharply in November
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US trade deficit widens sharply in November
