The U.S. Commerce Department reported on Wednesday that U.S. the goods and services trade deficit rose 11.9 percent m-o-m to $48.9 billion in December from a revised $43.7 billion in the previous month (originally a gap of $43.1).

Economists had expected a deficit of $48.2 billion.

According to the report, the December increase in the goods and services deficit reflected a gain in the goods deficit of $5.1 billion to $69.7 billion and a drop in the services surplus of $0.1 billion to $20.8 billion. Exports of goods and services from the U.S. rose 0.8 percent m-o-m to $209.6 billion in December, while imports jumped 2.7 percent m-o-m to $258.5 billion.

For the full 2019, the goods and services deficit declined 1.7 percent from 2018. That was the first decline since 2013. Exports edged down 0.1 percent in 2019, while imports reduced 0.4 percent.