U.S. trade deficit falls sharply in November

[February 06, 2019]  WASHINGTON (Reuters) - The U.S. trade deficit narrowed sharply in November amid declines in imports of cellphones and petroleum products.

The Commerce Department said on Wednesday the trade deficit dropped 11.5 percent to $49.3 billion. The trade gap had increased for five straight months. Data for October was revised to show the deficit rising to $55.7 billion instead of the previously reported $55.5 billion.

Economists polled by Reuters had forecast the trade deficit falling to $54.0 billion in November. The release of the report was delayed by a recently ended five-week partial shutdown of the federal government.

(Reporting By Lucia Mutikani; Editing by Chizu Nomiyama)

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