US Q2 current account balance reading 15 Sept 2016

  • USD - 131.8 bln revised down from -124.7bln
  • Goods exports rose $6.1 billion to $360.2 billion.

The U.S. current account deficit narrows in Q2 as exports and income from abroad rise.

The Q2 current account deficit represented 2.6% of GDP, down from 2.9% in Q1. The current account deficit has declined from a record high of 6.3% of GDP in Q4 of 2005, as rising domestic oil production and lower international oil prices keep the import bill in check.

In Q2, the surplus on primary income - which includes dividends - increased to $42.9 billion from $34.0 billion in the second quarter. The deficit on secondary income, worker remittances and grants, fell $3.1 billion to $37.6 billion.

Just part of the picture as conjecture on a September hike continues. Weak retail sales negated by strong Philly Fed Index.