U.S. Current Account Deficit Widens to 14-Year High in Second Quarter


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(Worthy News) – The U.S. current account deficit increased to a 14-year high in the second quarter as businesses boosted imports to replenish depleted inventories amid robust consumer spending.

The Commerce Department said on Tuesday the current account deficit, which measures the flow of goods, services and investments into and out of the country, rose 0.5% to $190.3 billion last quarter. That was the largest shortfall since the second quarter of 2007.

Data for the first quarter was revised to show a $189.4 billion gap, instead of $195.7 billion as previously reported. [ Source: US News and World Report (Read More…) ]

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