(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.
- U.S. International Transactions – Third Quarter 2018 (BEA)
- U.S. Current Account Deficit Widens to $124.8 billion in Q3 as Imports Surge (MarketWatch)
- U.S. Current Account Widens; Companies Bring Home Piles of Cash (Reuters)