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2020-09-21 11:55:00

U.S. CARRENT ACCOUNT DEFICIT $170.5 BLN

U.S. CARRENT ACCOUNT DEFICIT $170.5 BLN

U.S. BEA- SEPTEMBER 18, 2020 - The U.S. current account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, widened by $59.0 billion, or 52.9 percent, to $170.5 billion in the second quarter of 2020, according to statistics from the U.S. Bureau of Economic Analysis (BEA). The revised first quarter deficit was $111.5 billion.

The second quarter deficit was 3.5 percent of current dollar gross domestic product, up from 2.1 percent in the first quarter.

The $59.0 billion widening of the current account deficit in the second quarter mostly reflected an expanded deficit on goods and reduced surpluses on primary income and on services.

 

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Earlier:

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Tags: USA, FINANCE, ECONOMY