Significantly exceeded expectations! The U.S. merchandise trade deficit in December expanded to a record high
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The U.S. trade deficit in goods widened by 18% in December, reaching a record $122.1 billion, exceeding economists' expectations. Imports rose by nearly 4%, while exports fell by 4.5%. This indicates strong demand from U.S. businesses for imported goods, but weak overseas economies and a stronger dollar are putting pressure on exports. The widening trade deficit could weigh on U.S. GDP in the fourth quarter, and retail inventories fell by 0.3% for the first time. Complete trade data for December will be released on February 5
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