Increase in US imports and exports signals global pickup

The trade deficit unexpectedly widened in November as US imports jumped almost four times more than exports, gains that signal a rebound in global growth. The gap swelled 15.8 per cent to $48.7 billion, the largest since April, the commerce department data showed yesterday. The shortfall exceeded all projections in a Bloomberg survey of economists. Imports reflected record demand for consumer goods, while US companies benefitted from more overseas sales of equipment such as telecommunications gear. American retailers stocked up on foreign-made mobile phones and computers heading into the holidays, showing little concern that the budget impasse in Washington would hurt household spending. Strengthening economies in Asia, combined with a sustained expansion in the US, will probably spur orders at companies such as Alcoa Inc.