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U.S. Current-Account Deficit Widens in Third Quarter to 10-Year High

(Eric Morath & Josh Zumbrun – Wall Street Journal)

The U.S. current-account deficit, a measure of the nation’s trade and financial flows with other countries, widened to a 10-year high in the third quarter, as exports fell and imports continued to rise.

The report also showed that a surge of companies repatriating their foreign earnings, which had been prompted by last year’s tax-code changes, has faded.

The overall current-account deficit climbed to a seasonally adjusted $124.82 billion in the third quarter from a revised $101.22 billion in the second quarter, the Commerce Department said Wednesday. Economists surveyed by The Wall Street Journal had expected a $126.2 billion deficit. Click here to read more.