US trade deficit narrows unexpectedly in November
Washington (AFP) - The US trade gap narrowed in November with imports and exports both falling while higher interest rates bite, the government reported Tuesday. Although analysts expected the trade deficit to widen slightly, the gap was smaller than anticipated at $63.2 billion, down from a revised October figure of $64.5 billion, the Commerce Department said. Resilient consumption has supported US trade, but analysts have expected the effect of higher interest rates, as it weighs on demand, to add pressure on imports. Meanwhile, exports could take a hit from slower growth in major US trading...