Date: December 19, 2019
The U.S. current account deficit in the third quarter of 2019, decreased by $1.1 billion, or 0.9%, to $124.1 billion from the revised second quarter deficit of $125.2 billion. This reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries.
According to statistics from the U.S. Bureau of Economic Analysis (BEA), the third quarter deficit amounted to 2.3% of current dollar gross domestic product. In addition, BEA noted, “the $1.1 billion narrowing of the current account deficit in the third quarter mainly reflected a reduced deficit on goods and an expanded surplus on primary income.”
Furthermore, in the third quarter, exports of goods and services to, and income received from, foreign residents fell $4.3 billion, to $944.4 billion. However, imports of goods and services from, and income paid to, foreign residents went down $5.4 billion to $1.07 trillion.
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
