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U.S. goods trade deficit widens in December on imports -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Stacks and loads of merchandise were pictured at Amazon’s Robbinsville fulfillment center, New Jersey. The operation took place on Cyber Monday, U.S.A, November 29th, 2021. REUTERS/Mike Segar/File Photo

WASHINGTON, (Reuters) – The U.S. trade deficit for goods widened in December due to an increase in imports. This suggests that trade will continue to be a factor in economic growth during the fourth quarter.

Commerce Department on Wednesday reported that last month’s goods trade deficit increased 3.0%, to 101.0 billion.

This report was released ahead of Thursday’s fourth quarter gross domestic product advance data. Five quarters in a row, trade has been a negative factor in GDP growth.

A Reuters poll of economists found that the economy grew by 5.5% annually last quarter. This is a significant increase from 2.3% in the third quarter. The strongest growth since 1984 is anticipated to be last year.

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