Trade

Trade deficit widened in November

by Vicki Needham - 01/11/13 2:26 PM ET

The U.S. deficit with China, one of the country’s largest trading partners, fell slightly, by almost 2 percent, to $28.95 billion, down from the monthly record hit in October.

Demand for U.S. goods fell in Europe as the region continues battling a fiscal crisis.

Trade boosted the nation’s growth in the July-September quarter to 3.1 percent, but economists have estimated that growth will slow during the final three months of the year, in part because exports, which had hit a record pace last year, would slow.

The good news is that the trade deficit was running about 2 percent behind the 2011 levels, at $546.6 billion.

Tags