US Q3 current account deficit widens to $127.2 bln

WASHINGTON, Dec 16 (BestGrowthStock) – The U.S. current account
deficit widened to $127.2 billion in the third quarter or 3.5
percent of gross domestic product, the Commerce Department
said on Thursday, increasing for a fifth consecutive quarter.

It was the largest deficit since the fourth quarter of 2008
and reflected a bigger shortfall on goods and a reduction on
income. The government slightly altered its estimate for the
second-quarter current account deficit to $123.2 billion, or
3.4 percent of GDP, from a previously reported $123.3 billion.

Economists had expected the deficit to widen to $126
billion in the third quarter.

The deficit on goods increased to $171.2 billion in the
third quarter, the largest since the fourth quarter of 2008,
from $169.6 billion in the prior quarter. The surplus on
income decreased to $41.1 billion from $43.0 billion in the
second quarter.
(Reporting by Lucia Mutikani; Editing by Andrea Ricci)

US Q3 current account deficit widens to $127.2 bln