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U.S. current account deficit narrows more than expected in Q3
U.S. current account deficit narrows more than expected in Q3
Dec. 21, 2022 8:30 AM ETBy: Liz Kiesche, SA News Editor
Q3 Current Account: -$217.1B vs. -$222.0B consensus, -$238.7B previous (revised from -$251.1B).
The U.S. current account deficit — or the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries —narrowed by $21.6B, or 9.1% during Q3 vs. Q2.
The Q3 deficit was 3.4% of current-dollar gross domestic product, down from 3.8% in Q2.
The narrower deficit mostly reflected a decreased deficit on goods that was partly offset by a decreased surplus on primary income and an increased deficit on secondary income.
Last week, business inventories rose 0.3% in October, slightly less than expected.
Dec. 21, 2022 8:30 AM ETBy: Liz Kiesche, SA News Editor
Q3 Current Account: -$217.1B vs. -$222.0B consensus, -$238.7B previous (revised from -$251.1B).
The U.S. current account deficit — or the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries —narrowed by $21.6B, or 9.1% during Q3 vs. Q2.
The Q3 deficit was 3.4% of current-dollar gross domestic product, down from 3.8% in Q2.
The narrower deficit mostly reflected a decreased deficit on goods that was partly offset by a decreased surplus on primary income and an increased deficit on secondary income.
Last week, business inventories rose 0.3% in October, slightly less than expected.