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US trade deficit widens by the most in nearly 34 years in November
['Thu', 'January', 'At P.M. Gmt', 'Min Read']
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WASHINGTON, Jan 29 (Reuters) - The U.S. trade deficit widened by the most in nearly 34 years in November amid a surge in capital goods imports, likely driven by an artificial intelligence investment boom, which could prompt economists to trim their economic growth estimates for the fourth quarter.
Economists polled by Reuters had forecast the trade deficit would rise to $40.5 billion.
Goods imports advanced 6.6% to $272.5 billion, with capital goods soaring $7.4 billion to a record high.
The goods trade deficit widened 47.3% to $86.9 billion.
The deterioration in the trade deficit in November could temper economists' expectations that trade will deliver another large boost to gross domestic product in the fourth quarter.