U.S. DEFICIT: $113 BLN
BEA - The U.S. current account deficit decreased to $113.0 billion (preliminary) in the third quarter of 2016 from $118.3 billion (revised) in the second quarter of 2016, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit decreased to 2.4 percent of current-dollar gross domestic product (GDP) from 2.6 percent in the second quarter.
The $5.3 billion decrease in the current account deficit reflected a $9.0 billion decrease in the deficit on goods that was partly offset by changes in the balances on secondary income, primary income, and services.
Exports of goods and services and income receipts increased $17.7 billion in the third quarter to $799.0 billion.
Imports of goods and services and income payments increased $12.4 billion to $912.0 billion.
Net U.S. borrowing measured by financial-account transactions was $207.9 billion in the third quarter, an increase from net borrowing of $41.0 billion in the second quarter. A decrease in net U.S. acquisition of financial assets excluding financial derivatives was partly offset by a decrease in net U.S. incurrence of liabilities excluding financial derivatives and an increase in net lending in financial derivatives other than reserves.
Net U.S. acquisition of financial assets excluding financial derivatives decreased $292.0 billion in the third quarter to $31.5 billion.
Net U.S. incurrence of liabilities excluding financial derivatives decreased $115.9 billion to $251.5 billion.
Transactions in financial derivatives other than reserves reflected third-quarter net lending of $12.1 billion, a $9.2 billion increase from the second quarter.
|July, 16, 11:05:00|
|July, 16, 11:00:00|
|July, 16, 10:55:00|
|July, 16, 10:50:00|
|July, 16, 10:45:00|
|July, 16, 10:40:00|
AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.