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US current account deficit widened above expectations in the 2Q |
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FXstreet.com (Barcelona) – United States’ current account deficit has widened in a larger than expected extent in the second quarter of the year under the influence of higher costs of oil imports, according to data released by the Commerce Department.
From April to June, U.S. current account deficit has increased to $183.1 billion from revised $175.6 billion deficit in the first three months of the year, previously estimated as a $ 176.4 billion gap.
The second quarter’s deficit has resulted well larger than expected, as market analysts had advanced a $179 billion deficit.
The US deficit on international trade in goods increased to $216.3 billion from $211.0 billion in the previous quarter, while surplus on income decreased to $27.3 billion from $33.2 billion, and Net unilateral current transfers to foreign residents were $29.9 billion, down from $31.7 billion. On the positive side, the surplus on international trade in services rose to $35.8 billion from $33.9 billion in the previous quarter.
Posted originally: 9/17/2008 12:58:00 PM
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