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November trade defict hits $47.8 billion

Posted By -NO AUTHOR- On 01/13/2012 @ 11:22 am In Front Page,Money,World | No Comments

WASHINGTON— The U.S. trade deficit widened in November for the first time in five months, largely because of a spike in the price of imported oil.

Still, exports fell for a second straight month, a sign that Europe’s slowdown has begun to affect the U.S. economy.

The trade gap rose 10.4 percent to $47.8 billion, the Commerce Department said Friday.

Overall exports dropped 0.9 percent to $177.8 billion. But American exports to Europe fell more sharply — nearly 6 percent.


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