November U.S. Trade Deficit Widens
Through November 2009, the overall U.S. trade deficit reflected an annual rate of $371.59 billion, nearly half of 2008's imbalance of $695.94 billion. Last year's credit crisis and recession had sharply curtailed consumers' demand for imported goods. With the economy now beginning to recover and imports rising, economists are predicting a higher trade deficit for 2010. However, they also see a continued rise in demand for U.S. exports as overseas markets recover as well. China and other Asian nations are leading the rebound in the global economy.
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