Photo: AP Images
The trade gap widened to $48.8 billion from $47.1 billion a month ago.This is a six-month high.
Economists were expecting the trade deficit to widen to $48.5 billion.
From the U.S. Census Bureau’s announcement:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total December exports of $178.8 billion and imports of $227.6 billion resulted in a goods and services deficit of $48.8 billion, up from $47.1 billion in November, revised. December exports were $1.2 billion more than November exports of $177.5 billion. December imports were $3.0 billion more than November imports of $224.6 billion.
In December, the goods deficit increased $1.8 billion from November to $64.3 billion, and the services surplus was virtually unchanged from November at $15.5 billion. Exports of goods increased $0.9 billion to $127.1 billion, and imports of goods increased $2.7 billion to $191.4 billion. Exports of services increased $0.3 billion to $51.7 billion, and imports of services increased $0.3 billion to $36.2 billion.
The goods and services deficit increased $8.3 billion from December 2010 to December 2011. Exports were up $14.8 billion, or 9.0 per cent, and imports were up $23.1 billion, or 11.3 per cent.
Photo: U.S. Census Bureau