U.S. Trade Deficit Rises for Third Straight Month

The U.S. trade deficit increased 10.4% to $40.2 billion in December, as imports rose faster than exports, the U.S. Commerce Department announced Wednesday.

It was the third straight monthly increase for the trade deficit, the highest since December 2008, and occurred despite the fact that exports rose for the eighth consecutive month. Economist surveyed by Bloomberg News had expected the trade deficit to fall to $35.7 billion from $36.4 billion in November and $33.2 billion in October.