Nov trade deficit widened to -$50.5b since..>

US DATA: Nov trade deficit widened to -$50.5b (largest since Jan 2012) 

vs -$49.5 expected, while the Oct gap was revised wider to -$48.9b from 

prev -$48.7b. Exports and imports were both record highs.

- The Nov chained gap widened to -$66.7b, so the 4Q average, at -$66.1b, 

is much wider than the -$62.0b average in 3Q, a negative for 4Q GDP.

- The BOP goods gap widened to -$70.9b in Nov, while the census goods 

gap widened to -$70.0b, larger than the -$69.7b in the advance estimate. 

- Ex-petro, the goods gap widened to -$65.2b from -$65.0b, while 

the petro gap widened to -$4.8b from -$3.3b in Oct.

- Imports surged on consumer goods (+$2.4b), industrial supplies 

(+$2.2b, crude oil +$1.1b) and capital goods (+$1.6b).

- Exports were driven higher by capital goods (+$2.5b, aircraft +$1.2b), 

as well as autos (+$1.0b), consumer goods (+$0.7b), and industrial 

supplies (+$0.2b).