News - National
November trade deficit increases to $36.4 billion
Posted: Jan 12, 2010 9:25 AM by Associated Press
The U.S. trade deficit jumped to the highest level in 10 months as an improving U.S. economy pushed up demand for imports.
However, exports rose as well, boosted by a weaker dollar, supporting the view that American manufacturers will be helped by a rebounding global economy.
The Commerce Department reported Tuesday that the trade deficit jumped 9.7 percent to $36.4 billion in November, a bigger imbalance than the $34.5 billion deficit economists had forecast. Exports rose 0.9 percent, the seventh consecutive gain, as demand was up for American-made autos, farm products and industrial machinery.
Imports, however, rose a much faster 2.6 percent, led by a 7.3 percent rise in petroleum imports.
As Seen On News 5
