US trade deficit up in December to $38.7 billion

The U.S. trade deficit increased in December after hitting a four-year low in November. But for the year, the deficit fell to its lowest point since 2009 as exports rose to an all-time high.

The trade deficit increased to $38.7 billion in December, a 12 percent increase over November, the Commerce Department reported Thursday. U.S. exports slipped 1.8 percent to $191.3 billion while imports were up 0.3 percent to $230 billion.