The U.S. trade deficit widened in December for a second straight month, according to Bloomberg.

Information from the U.S. Department of Commerce shows the gap grew 5.9 percent to $40.6 billion.

Excluding petroleum purchases, though, the shortfall shrank to $15.3 billion, the smallest gap since March 2010. The cost of imported oil climbed to the highest level in two years in December. The average price per barrel of imported crude reached $79.78.

“The world has still got a strong demand for American manufactured goods, with robust growth in countries like China,” said David Semmens, an economist at Standard Chartered Bank in New York, in an interview with Bloomberg. “American consumers are coming back, which means imports will keep rising.”

Imports increased 2.6 percent to $203.5 billion, the most since October 2008, led by a jump in consumer spending. Exports increased 1.8 percent to $163 billion, the most since July 2008.

The trade gap climbed to $497.8 billion in 2010 from $374.9 billion the prior year, but was well below the $698.8 billion posted in 2008.

Exports increased 17 percent in 2010, and imports improved 20 percent.