(Globe & Mail)
The U.S. trade deficit in December widened sharply to its highest level since 2012 as imports rose despite a lower energy bill, which could see the fourth-quarter growth estimate revised down.
The Commerce Department said on Thursday the trade deficit jumped 17.1% to $46.6-billion, the largest since November 2012. It was the biggest percentage increase since July 2009. November’s shortfall on the trade balance was revised up to $39.8-billion from a previously reported $39.0-billion.
Economists polled by Reuters had forecast the trade deficit falling to $38.0-billion. When adjusted for inflation, the deficit widened to $54.7-billion from $48.7-billion in November. Click here to read more.