The imbalance in the current account decreased in the third quarter to $174.1 billion from a revised $180.9 billion in the second quarter, previously reported as a $183.1 billion deficit, the Commerce Department reported yesterday.
Thomson Reuters’ poll of economists predicted a $178.8 billion deficit.
The balance on goods was a $214.7 billion deficit in the third quarter, which followed a $216.3 billion deficit on goods in the second quarter. Goods exports increased to $346.5 billion from $337.3 billion.
“More than half of the increase was accounted for by a rise in industrial supplies and materials, largely reflecting increases in energy products and in chemicals,” according to a Commerce Department press release. Automotive vehicles and parts, capital goods, and consumer goods also increased.
The balance on services was a $38.2 billion surplus in the third quarter, following a $36.2 billion surplus on services in the second quarter. Services receipts increased to $142.5 billion from $138.2 billion.
The balance on goods and services was a $176.5 billion deficit in the third quarter, following a $180.1 billion deficit on goods and services in the second quarter.
The balance on investment income was a $30.8 billion surplus in the third quarter, following a $28.2 billion surplus on investment income in the second quarter.
The balance on unilateral transfers was a $28.4 billion deficit in the third quarter, following a $29.0 billion deficit on unilateral transfers in the second quarter.
