US Current Account Deficit for Q3 falls to 3-year low
18 December 2007
The US current account deficit in the third quarter fell to its smallest share of the overall economy in more than three years, the Commerce Department said. The third-quarter current account deficit shrank to 178.5 bln USD (exp. 183.6bln USD), down from the revised 188.9 bln USD in the seconod quarter, and the lowest since the third quarter of 2005. The goods deficit narrowed to 199.7 bln USD in the quarter from 204.2 bln USD, due mostly to a surge in goods exports. Exports rose to 297.9 bln USD from 279.3 bln USD. Leading the way were exports of capital goods, food, industrial supplies and materials, and autos and auto parts.