WASHINGTON — The third quarter current account balance was reported at a $100.3 billion deficit, or 2.3% of GDP, up slightly from a $98.4 billion shortfall in the second quarter (also 2.3% of GDP).
This slight worsening reflects fewer U.S. government fines in secondary income. The main drivers of this statistic, a wide trade gap in goods and a slightly smaller surplus on services, were already known from monthly reports.
The current account deficit was funded by a $2.6 billion gain in direct investment as firms got equity infusions, and by foreign buys of $81.2 billion more equities and $102 billion bonds. The bonds were corporate and agency issues, with selling in T-bills at a lesser pace.
Derivatives were down on net $24.3 billion, showing net borrowing.
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