–Income Surplus Rises, Offsets Wider Goods, Services Gap
–Unilateral Transfers Gap Widened Slightly
By Kevin Kastner
WASHINGTON (MNI) – The U.S. current account deficit narrowed
slightly to $118.0 billion in the second quarter from $119.6 billion in
the previous quarter, as the income surplus grew, data released Thursday
morning by the Commerce Department showed.
The income surplus grew to $61.1 billion in the second quarter from
$52.7 billion in the previous quarter, a change of $8.5 billion.
However, the goods and services gap widened to $145.0 billion in
the second quarter from $140.0 billion in the previous quarter, a dip of
$5.0 billion.
In addition, the unilateral transfers gap widened to $34.2 billion
in the second quarter from $32.3 billion in the previous quarter, a
deterioration of $1.9 billion. There were large net sales of US
Treasuries by private foreign buyers, but net purchases by foreign
official buyers
The current account stood at 3.1% of GDP in the second quarter,
down from 3.2% in the previous quarter.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]
