US trade deficit hits $902 billion in December, above forecasts and one of the largest on record

US trade deficit data came in heavy for December. The Commerce Department said the monthly gap hit $70.3 billion. That was $17.3 billion higher than November. Economists surveyed by Dow Jones expected $55.5 billion. The number beat that by a wide margin. For the full year, the trade deficit reached $901.5 billion. That was down […]