WASHINGTON — Led largely by an increase in the deficit on goods, the imbalance in the U.S. current account rose in the second quarter to $123.3 billion from a revised $109.2 billion in the first quarter, the Commerce Department reported Thursday.

The second-quarter increase in the current account deficit was just below economists’ expectations of a $125 billion deficit.

Commerce said that the second-quarter deficit represented 3.4% of gross domestic product, up from 3.0% in the first quarter.  It was the fourth straight quarterly increase.

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