WASHINGTON – The U.S. trade deficit increased more than expected inNovember as imports of goods surged to a record high amid strong domesticdemand, making it likely that trade will subtract from economic growth inthe fourth quarter.
The Commerce Department said on Friday the trade gap widened 3.2 percent to$50.5 billion. That was the highest level since January 2012 and followedan upwardly revised $48.9 billion shortfall in October.
Economists polled by Reuters had forecast the trade deficit increasing to$49.5 billion in November after a previously reported $48.7 billion deficitin the prior month.