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The Commerce Department said on Thursday the
trade deficit jumped 17.1 percent 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.
December's surprise surge in the trade gap suggested a downward
revision to the fourth-quarter gross domestic product estimate.
The government reported last week that GDP expanded at a 2.6
percent annual rate, with trade estimated to have subtracted
1.02 percentage point from growth.
In December, imports rose 2.2 percent to $241.4 billion, with
imports of non-petroleum products surging to a record high, a
sign of strengthening in the domestic economy. It also reflected
the strength of the U.S. dollar.
Exports slipped 0.8 percent to $194.9 billion in December.
Exports have been hurt by slowing growth in Asia and Europe, a
strengthening dollar, as well as a labor dispute at U.S. West
Coast ports, which has been cited by some manufacturers as
causing delays in the movement of goods.
Exports to Canada and Mexico - the main U.S. trading partners -
fell in December. In contrast, exports to Japan, China and the
European Union rose in December.
The politically sensitive U.S.-China trade deficit fell 5.5
percent to $28.3 billion.
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