MW; Current account deficit narrows in third quarter
By Steve Goldstein
WASHINGTON (MarketWatch) -- The U.S. current-account deficit, which is the combined balances on trade in goods and services, income, and donations, fell to $110.3 billion, or 2.9% of GDP, in the third quarter, from an upwardly revised $124.7 billion, or 3.3%, in the second quarter. The Commerce Department said more than half of the decrease reflected a decrease in the deficit on goods. A decrease in net unilateral current transfers and increases in the surpluses on services and on income also contributed, the government said. The second quarter deficit initially was reported as $118.0 billion, and the revision was mostly due to increased net financial inflows.
