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Economic Report: U.S. trade deficit climbs 6.8% in November

Reuters

The U.S. trade deficit rose in November.

WASHINGTON (MarketWatch) — The U.S. trade deficit rose almost 7% in November as imports hit the highest level in nearly a year and a half, largely because of a gush of foreign oil.

The nation’s trade gap climbed to $45.2 billion from a revised $42.4 billion in October, the government said Friday. Economists polled by MarketWatch had forecast a $45.9 billion deficit.

A higher deficit reduces the official scorecard for the economy known as gross domestic product.

Imports increased 1.1% to $231.1 billion in November, marking the highest level since August 2015.

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