WASHINGTON — The U.S. trade deficit expanded in November to $36.4 billion, exceeding analysts’ estimates, as exports reached their highest level in a year, the Commerce Department reported yesterday.
U.S. November imports of goods and services increased 2.6% to $174.6 billion, the highest level since December 2008. Exports, in the seventh consecutive gain, rose 0.9% to $138.2 billion.
The 9.7% increase in the trade deficit was the largest since September. October’s trade deficit was revised to $33.2 billion from $32.9 billion initially reported.
Economists expected the November trade deficit to widen to $34.5 billion, according to the median estimate from Thomson Reuters.
