US Nov trade gap widens to $48.73bn

11 Jan, 2013

 

The Commerce Department said on Friday the trade gap increased 16 percent in November to $48.7 billion.

 

Analysts were expecting the deficit to shrink to $41.3 billion, so the report could lead some economists to trim their forecasts for economic growth in the fourth quarter.

 

Net imports suck cash out of the economy, subtracting from gross domestic product.

 

The trade deficit was the widest since April, and its expansion was driven by a 3.8 percent increase in imports, the largest gain in eight months.

 

Copyright Reuters, 2010

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