Manufacturing, trade deficit figure disappoint

? Manufacturing stumbled in December, and November’s trade deficit swelled to a record. The figures underscored challenges that face a struggling U.S. economy.

The Federal Reserve reported Friday that production at the nation’s factories, mines and utilities fell by 0.2 percent in December, ending a turbulent year on a disappointing note. Industrial production fell for a second straight year in 2002, the first time that has happened since the early 1970s.

Meanwhile, the U.S. trade deficit bulged to a record $40.1 billion in November as imports soared after West Coast ports got back to business.

The Commerce Department report showed the imbalance between what the United States sells abroad and what it imports swelled by 13.9 percent in November from the October deficit of $35.2 billion.

“The trade deficit … in November was simply incredible. No, make that incomprehensible,” said economist Joel Naroff.