US Trade Deficit Hiked More than Expected in November
US Trade Deficit Hiked More than Expected in November

For the month of November, the trade deficit for US widened much more than expected, as imports hiked faster than exports, suggesting that there is a definite rebound in global demand that is nudging the growth further.

For November 2009, the gap grew by 9.7% to $36.4 Billion from a revised October of $33.2 Billion, as has been confirmed by the data shared by the Commerce Department. Imports rose by
2.6%, mainly on the back of a surge in oil prices, and exports surged to hit the highest level in a year.

"There's continued strong export growth ahead. On the import side, it's logical that if U. S. companies are no longer running down their inventories that they're going to need to import more", said Nigel Gault, Chief U. S. economist at IHS Global Insight.

An increase has been recorded in spending by US businesses and consumers, indicating that purchases of foreign products will continue to rise over the coming months. And at the same time, a
12% fall in the value of dollar and strengthening economies overseas are leading experts to believe that American sales abroad by firms such as United Parcel Service Inc. and United Technologies Corp. may also improve.

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