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Trade Deficit in U.S. Rose in December to Six-Month High on Import Growth
The trade deficit in the U.S. widened in December to a six-month high as a strengthening economy caused imports to grow faster than exports. The gap increased 3.7 percent to $48.8 billion from $47.1 billion in November, Commerce Department figures showed today in Washington. Purchases of goods and services produced overseas were the strongest in more than three years on record demand for capital equipment like machinery and semiconductors. Imports may keep rising as an improving job market underpins consumer spending, and businesses rebuild inventories and replace outdated equipment. At the same time, demand from ... (full story)
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