Economics
U.S. Trade Gap Widened to Second-Biggest on Record in November
- Goods-trade gap increases to $86.4 billion, biggest yet
- Services surplus narrows to smallest since August 2012
Photographer: Patrick T. Fallon/Bloomberg
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The U.S. trade deficit widened to the second-largest on record in November as merchandise imports reached a more than one-year high in the midst of the holiday shopping season, causing the shortfall in goods to climb to the highest yet.
The gap in trade of goods and services expanded to $68.1 billion in November from $63.1 billion in October, according to Commerce Department data released Thursday. That compares with a median estimate for a gap of $67.3 billion in a Bloomberg survey of economists.