U.S. trade gap hit $48.7 billion in November
Posted: January 11, 2013 at 11:13 a.m.
WASHINGTON The U.S. trade deficit expanded in November to its widest point in seven months, driven by a surge in imports that outpaced only modest growth in exports.
The Commerce Department said Friday that the trade gap widened 15.8 percent to $48.7 billion in November from October.
Imports grew 3.8 percent to $231.3 billion, led by gains in shipments of cell phones, including Apple’s new iPhone. Exports increased only 1 percent to $182.6 billion.
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