Mubasher: The U.S. trade deficit shrank by 5% year-on-year to $42.4 billion in November, in the Commerce Department reported Wednesday.
Trade deficit amounted to $44.6 billion in October.
Exports contracted 1.6% to $182.2 billion, the smallest monthly total since January 2012. Imports were also down, shrinking 1.7% to $224.6 billion. The import declines this year reflect the big drop in global oil prices.
