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U.S. trade deficit hits $50.5 billion, biggest since 2012

The U.S. trade deficit rose to $50.5 billion in November, the largest imbalance in nearly six years, as imports and exports both hit records.

The November deficit was 3.2 percent higher than October’s $48.9 billion imbalance, the Commerce Department reported Friday. U.S. exports of goods and services were up 2.3 percent to an all-time high of $200.2 billion. Imports rose an even faster 2.5 percent to a record $250.7 billion.

A rising trade deficit, which reduces economic growth, means that the United States is buying more goods and services from other countries than it is selling them. … U.S. exports of commercial aircraft, telecommunications equipment and American-made autos and auto parts were all up in November. U.S. manufacturers have been helped this year by a rebounding global economy and a weaker dollar which has made American goods more competitive on foreign markets.

More at the Spokesman Review

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