U.S. Current Account Shrinks to Lowest in Two Years

Before you go, we thought you'd like these...
Before you go close icon

cargo shipThe current account for the third quarter, a reading with what is now more than 75 days worth of a look-back, managed to show a decrease to -$107.5 billion. This is the lowest level in about two years as the cost of imports was lower during the period of July to September. Today's data from the Commerce Department showed that the current account was roughly 2.7% of gross domestic product. Dow Jones had a consensus estimate of $102 billion.

This was the second contraction, as the prior quarter was revised to -$118.1 billion from a prior reading of -$117.4 billion. To show how much more narrow this was, the first quarter was shown to be -$133.6 billion.

While this is an important trade figure, we would remind investors again that this number has more than 75 days worth of time since the ending date in the period. This data is just not a huge number for investors and traders.

The current account is the measurement of the international trade balance of the United States in goods, services and unilateral transfers. It is measured quarterly, and this is combined with exports and imports to indicate trends in our foreign trade.

JON C. OGG


Filed under: 24/7 Wall St. Wire, Economy, International Markets Tagged: featured
Read Full Story

Markets

S&P 500 2,384.20 -4.57 -0.19%
DJIA 20,940.51 -40.82 -0.19%
NASDAQ 6,047.61 -1.33 -0.02%
DAX 12,438.01 -5.78 -0.05%
NIKKEI 225 19,196.74 -55.13 -0.29%
HANG SENG 24,615.13 -83.35 -0.34%
USD (per EUR) 1.09 0.00 0.30%
USD (per CHF) 0.99 0.00 0.05%
JPY (per USD) 111.53 0.03 0.02%
GBP (per USD) 1.29 0.00 0.01%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going
Don't Get Too Close To a Newborn Giraffe Unless You Want to Get Kicked in the Nuts Don't Get Too Close To a Newborn Giraffe Unless You Want to Get Kicked in the Nuts
Rescuer Sees Bumps All Over This Dog's Skin - Then X-Rays Reveal The Tragic Story Rescuer Sees Bumps All Over This Dog's Skin - Then X-Rays Reveal The Tragic Story