US current account for the 2Q.

US current account for the 2Q.
  • current-account $-190.3 billion versus -193 billion estimate.
  • 1Q deficit came in at $-196 billion
  • the 2Q deficit was 3.3% of the current dollar gross domestic product which is down from 3.4% in the 1Q
  • The $0.9 billion widening mainly reflected reduce surpluses on services and on primary income that were mostly offset by reduced deficit on secondary income.

The US runs a service surplus with the global economy along with primary income. On the good side, the trade flows are heavily in a deficit as US imports way more goods than they export abroad. Secondary income is also a deficit generally.