The Commerce Department reported on Wednesday the U.S. trade deficit widened to $59.8 billion in December from a revised $50.3 billion in November, as exports slumped for a third straight month and imports recovered. That was the largest trade deficit since October of 2008.

Economists had forecast the deficit to widen to $57.9 billion from the $49.3 billion originally reported for the previous month.

The December 18.8 percent jump in trade deficit had contributed to the $621.0-billion gap last year. The 2018 deficit was the largest since 2008 and followed a $552.3 billion shortfall in 2017.