(MENAFN) The US trade deficit widened in the October-December quarter to the biggest imbalance in more than two years as exports of goods fell at a faster pace than imports, Arab News reported.
The Commerce Department said that the deficit in the current account increased to USD113.5 billion, an increase of 14.7 percent from a third quarter deficit of USD98.9 billion.
A widening deficit contributed to the slowdown in overall economic growth in the fourth quarter and is expected to be a drag on growth in 2015 as the stronger dollar makes American products less competitive.
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