US trade deficit widens

The US trade deficit in December widened sharply to its highest level since 2012 as a stronger dollar appeared to suck in imports and weigh on exports, which could see the fourth-quarter economic growth estimate revised lower. The Commerce Department said on Thursday the trade deficit jumped 17.1 per cent to $46.6 billion, the largest since November 2012. It was the biggest percentage increase since July 2009 and also reflected a sputtering global economy. Initial claims for state unemployment benefits increased 11,000 to a seasonally adjusted 278,000 for the week ended January 31, the Labor Department said in a separate report.