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US: Current account deficit increased to $124.8 billion in Q3

"The U.S. current-account deficit increased to $124.8 billion (preliminary) in the third quarter of 2018 from $101.2 billion (revised) in the second quarter of 2018," the Bureau of Economic Analysis (BEA) reported on Wednesday.

Key takeaways from the press release

  • The deficit was 2.4 percent of current-dollar gross domestic product (GDP) in the third quarter, up from 2.0 percent in the second quarter.
  • The $23.6 billion increase in the current-account deficit mainly reflected a $24.0 billion increase in the deficit on goods.
  • Exports of goods and services and income receipts decreased $6.2 billion in the third quarter to $930.3 billion.

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