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U.S. Current Account Deficit Down 1.3 Pct in Q2
Sep 16,2011 08:55CST
industry news
Source:SMM
U.S. current account trade deficit dropped 1.3 percent to 118 billion U.S. dollars in the second quarter of this year, the Commerce Department said on Thursday.

WASHINGTON, Sept. 16 (Xinhua) -- U.S. current account trade deficit dropped 1.3 percent to 118 billion U.S. dollars in the second quarter of this year, the Commerce Department said on Thursday.

That figure accounted for 3.1 percent of the gross domestic product (GDP). In the first quarter of this year, the nation's current account trade deficit stood at a revised 119.6 billion dollars.

Current account is the broadest measure of foreign trade as it measures not only trade in goods and services, which are tracked by the government on a monthly basis, but also investment flows between countries.

The deficit on goods rose to 190.4 billion dollars in the April-June period from 182.2 billion dollars in the first quarter.

The U.S. surplus on services increased to 45.4 billion dollars in the second quarter from 42.3 billion dollars in the first quarter.


 

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