12 Jan 2013

US trade deficit widens

11:33 am on 12 January 2013

New figures show the United States trade deficit unexpectedly widened in November.

The gap blew out to 16% to $US48.7 billion, the widest since last April, as imports hit record highs, the BBC reports.

Imports increased by 3.8%, the largest rise in eight months, to $US231.3 billion. The value of exports increased by 1% to $US182.6 billion.

Imports of consumer goods rose by $US4.6 billion. Analysts say this is a sign that the US retail sector is growing stronger, with rising consumer spending.