U.S. current account deficit fell to $119.9 billion in the second quarter of 2016 from a $131.8 billion deficit in the first quarter of, the Commerce Department reported Thursday.
The deficit was below the median $120.5 billion estimate of economists polled by Thomson Reuters.
The deficit fell to 2.6% of current-dollar gross domestic product from 2.9% in the first quarter.
"The $12.0 billion decrease in the deficit reflected an $8.9 billion increase in the surplus on primary income to $42.9 billion, a $3.1 billion decrease in the deficit on secondary income to $37.6 billion, and a $0.4 billion increase in the surplus on services to $61.5 billion," Commerce said.
Partly offsetting those changes was a $500 million increase in the deficit on goods to $186.7 billion.
