United States trade deficit reaches all time high
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The United States Government reported the largest trade deficit in its history today, totalling $60.3 billion for the month of November. The Commerce Department reported a rise of 7.7% from the previous month, in an announcement that had taken economists and analysts by surprise. The reading had been expected to fall to $54 billion, following a softening in oil prices. The trade deficit through November totaled $561.3 billion, far above the previous annual record of $496.5 billion set in 2003, and put the country on track to record a trade im
The United States Government reported the largest trade deficit in its history today, totalling $60.3 billion for the month of November.
The Commerce Department reported a rise of 7.7% from the previous month, in an announcement that had taken economists and analysts by surprise. The reading had been expected to fall to $54 billion, following a softening in oil prices.
The trade deficit through November totaled $561.3 billion, far above the previous annual record of $496.5 billion set in 2003, and put the country on track to record a trade imbalance topping $610 billion when the December figures are added.
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Read the source: Wikinews ↗Source published 12 Jan 2005, 05:30 am IST
