US trade deficit in goods widens during November
By Iain Gilbert
Date: Tuesday 09 Jan 2024
(Sharecast News) - America's trade deficit in goods widened to $90.3bn in November, up from a revised reading of $89.6bn a month earlier, according to an advance estimate from the Census Bureau.
Exports declined by 3.6% month-on-month to $165.1bn, dragged down by a drop in sales of industrial supplies, vehicles, other goods, and foods, feeds, and beverages.
Elsewhere, imports also dropped, albeit by a softer 2.1% to $255.4bn, weighed down by declines in purchases of consumer goods, industrial supplies, and other goods. On the other hand, imports of foods, feeds, and beverages increased 0.8% month-on-month.
Year-to-date, the goods and services deficit decreased by 18.4%, compared to the same period a year earlier. Over the same period, exports increased by $28.8bn and imports decreased by $133.0bn.
Reporting by Iain Gilbert at Sharecast.com
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