Current Account Deficit Narrows As Imports Decline In Third Quarter

 
Growth in emerging markets would boost export performance and help the economy continue to grow.
 
Faster growth in the US economy would boost imports. The trade deficit represented 2.7% of the US gross domestic product (GDP) in the third quarter.
 
That’s the smallest percentage of GDP in three years, down from 3% in the previous quarter.
 
US income on overseas assets in the third quarter was basically flat at $184.4 billion compared to $184 billion in the second quarter. Foreign earnings on US assets including wages and compensation decreased by $1.65 billion to $133.6 billion.
 
Payments by the US government to foreign entities were larger than inflows from overseas.
 
They totaled $33.8 billion in the third quarter compared to $32.7 billion in the second quarter.

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