Briefing.com: Trade Balance

Updated: 29-Jan-26 09:29 ET

November Trade Balance

Updated: 29-Jan-26 09:29 ET

Highlights

The U.S. trade deficit widened to $56.8 billion in November (Briefing.com consensus: -$43.5 billion) from an upwardly revised $29.2 billion (from -$29.4 billion) in October.
Exports were $10.9 billion less than October exports, and imports were $16.8 billion more than October imports.

Key Factors

Exports of industrial supplies and materials decreased $6.1 billion, led by nonmonetary gold (-$4.2 billion).
Exports of consumer goods decreased $3.1 billion, led by pharmaceutical preparations (-$2.9 billion).
Imports of consumer goods jumped $9.2 billion, led by pharmaceutical preparations ($6.7 billion).
Imports of capital goods rose $7.4 billion, led by computers ($6.6 billion).
The real goods trade deficit increased $23.5 billion to $87.1 billion in November. That left the Q4 average 13.7% below the Q3 average.

Big Picture

The key takeaway from the report is that it will create a drag on Q4 GDP growth expectations. A possible silver lining, though, is that the import activity could be construed as a reflection of increased demand in the U.S.