The U.S. trade deficit grew by 10% in December, according to the U.S. Census Bureau.
The December increase in the goods and services deficit reflected an increase in the goods deficit of $7.4 billion to $90.6 billion and an increase in the services surplus of $1.0 billion to $23.2 billion. The average goods and services deficit decreased $2.1 billion to $68.6 billion for the three months ending in December, while average exports decreased $2.6 billion to $253.0 billion in December and average imports decreased $4.7 billion to $321.6 billion.
Recession