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19 Sep 2017
US: Current-account deficit increased to $123.1 billion in the second quarter of 2017
"The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017," the Bureau of Economic Analysis (BEA) announced on Tuesday.
Key takeaways:
- The deficit increased to 2.6 percent of current-dollar gross domestic product (GDP) from 2.4 percent in the first quarter.
- The $9.6 billion increase in the current-account deficit reflected a $7.5 billion increase in the deficit on secondary income, a $2.9 billion decrease in the surplus on primary income, and a $0.8 billion increase in the deficit on goods.
- These changes were partly offset by a $1.6 billion increase in the surplus on services.
- Exports of goods and services and income receipts increased $2.2 billion in the second quarter to $836.8 billion.