Trade Deficit Increases in November
The trade deficit continues to grow according to the latest data from The U.S. Census Bureau and the U.S. Bureau of Economic Analysis (Census Bureau)
The goods and services deficit was $68.1 billion in November, up 8% from the revised $63.1 billion in October
- EXPORTS: Were $184.2 billion. This was $2.2 billion more than in October
- IMPORTS: Were $252.3 billion. This was $7.2 billion more than in October
The November increase was due to the goods deficit increasing by $5 billion to $86.4 billion and a decrease in the services surplus of less than 100 million to $18.2 billion
A GOOD SIGN: Historically, a growing trade deficit coincides with a growing economy. With manufacturing expanding in the US (IHS MARKIT) and across the globe (Wall Street Journal) it looks like our growing trade deficit is a sign of good things to come.