U.S. trade gap hit $48.7 billion in November

Posted: January 11, 2013 at 11:13 a.m.

— 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.

Read tomorrow's Arkansas Democrat-Gazette for full details.