US trade deficit went up in November 2011
January 14th, 2012 - 11:19 am ICT by IANS ( Leave a comment )Washington, Jan 14 (IANS/EFE) The US trade deficit shot up 10.4 percent in November to $47.75 billion after four consecutive months of declines, the Commerce Department said Friday.
The gap between imports and exports reached its highest level in five months, while the increase in the deficit was the largest in percentage terms since May.
Analysts had forecast a November shortfall of $44.8 billion, up from $43.27 billion the previous month.
The unusually large trade deficit in November could push growth in the fourth quarter of 2011 below the 3.2 percent expected by most economists after gross domestic product expanded 1.8 percent in the July-September period.
US exports of goods and services fell 0.85 percent in November to $177.84 billion, while imports rose 1.3 percent to $225.59 billion, the Commerce Department said.
The country’s cumulative trade deficit for the first 11 months of last year was $512.78 billion, greater than the $500 billion registered for all of 2010.
–IANS/EFE
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Tags: commerce department, declines, economists, five months, fourth quarter, gap, gross domestic product, imports and exports, percentage terms, shortfall, trade deficit
