WASHINGTON — The U.S. Q3 current account was reported as better than expected at a $94.8 billion deficit or 2.2% of GDP, improved from 2.3% in Q2 or a $1.8 billion betterment. The percentage was the lowest since Q1:1998.

This came despite trade erosion, and as net interest income increased and unilateral transfers (i.e., lower private remittances) fell.

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