US trade gap widens sharply in December

(MENAFN- AFP) The US trade deficit widened sharply in December as exports slumped amid a slowing global economy, government data released Thursday showed.The nation's trade gap rose to $38.7 billion in December, a 12 percent increase from November's upwardly revised $34.6 billion level, the Commerce Department said.The December increase came in well above the average analyst estimate of $36.0 billion. The prior November estimate was $34.3 billion.Exports tumbled 1.8 percent in December, to $191.3 billion, and imports edged up 0.3 percent, to $230.0 billion.