Trade Gap Widens to $36.4 Billion - TheStreet

Trade Gap Widens to $36.4 Billion

The U.S. trade deficit rose by 9.7% to $36.4 billion, according to the Commerce Department.
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WASHINGTON (

TheStreet

) -- The U.S. trade deficit widened more than expected in November as a rise in imports propelled by crude oil and consumer goods outpaced a jump in exports led by items like soybeans and autos.

The trade gap rose by 9.7% to $36.4 billion, according to the Commerce Department. The total eclipsed a forecast calling for a $34.6 billion trade deficit, according to a consensus from

Reuters.

The sum also marks an increase from October, as the gap was revised up to $33.2 billion from the $32.9 billion originally reported.

Exports grew 0.9% to $138.2 billion, while imports expanded by a faster 2.6% clip to $174.6 billion.

The trade gap with China, the nation's largest with any foreign partner, narrowed to $20.2 billion in November after posting $22.7 billion the month before.

Stocks were losing ground on Tuesday after

Alcoa

(AA) - Get Report

missed profit estimates late Monday. The

Dow Jones Industrial Average

slid 65 points, or 0.6%, at 10,599.

-- Written by Sung Moss in New York