U.S. Trade Deficit Jumped 94.6% in November


   
Karim Bastati
DTN Analyst

   VIENNA (DTN) -- The U.S. trade deficit nearly doubled in November amid a 
ballooning goods deficit, Commerce Department and U.S. Census Bureau data 
showed Thursday (1/29).

   The U.S. goods and services deficit stood at $56.8 billion in November, up 
by $27.6 billion, or 94.6%,from a revised $29.2 billion in October, the Bureau 
of Economic Analysis, a unit within the Commerce Department, said in statement.

   The increase came despite the services surplus growing by $29.8 billion, as 
the goods deficit more than tripled month-on-month, from $27.9 billion to $86.9 
billion.

   In November, U.S. imports rose 5% month-on-month to $348.9 billion, while 
exports fell 3.6% to $292.1 billion, the BEA release showed.

   While the trade deficit nearly doubled from the 15-year low in October, it 
was still below long-term averages preceding the large-scale implementation of 
tariffs on goods imports into the U.S.




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