WASHINGTON — The U.S. current account deficit widened considerably to $123.1 billion in the second quarter from a revised $113.5 billion gap in the previous quarter.
The primary income surplus narrowed to $47.2 billion in the first quarter from $50.1 billion in the previous quarter, while the secondary income deficit widened to $33.0 billion from $25.5 billion in the previous quarter.
The balance on goods and services narrowed modestly to a $137.3 billion gap in the second quarter from $138.1 billion gap in the previous quarter, providing some offset.
The current account rose to 2.6% of GDP in the second quarter from 2.4% in the previous quarter, hitting its highest point since the first quarter of 2016.
