US trade deficit widens to $68.1 billion in November
By Martin Crutsinger article
Cargo cranes and shipping containers are shown in a file image taken in Wilmington, North Carolina. (Photo by: John Greim/Loop Images/Universal Images Group via Getty Images)
WASHINGTON - The U.S. trade deficit jumped to $68.1 billion in November, the highest monthly deficit in 14 years, as a surge in imports overwhelmed a smaller increase in exports.
The November gap between what America buys from abroad compared to what it sells abroad rose by 8% from the October deficit of $63.1 billion, the Commerce Department said Thursday.
The increase reflected a 2.9% increase in imports of goods and services to $252.3 billion on a seasonally adjusted basis. That jump swamped a 1.2% rise in exports which totaled $184.2 billion in November.
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