US current account deficit rises to $100bn

Written By Unknown on Rabu, 17 Desember 2014 | 22.24

THE US current account trade deficit widened slightly in the July-September quarter, largely due to foreign institutions paying less in fines and penalties to the US government.

THE Commerce Department says the deficit in the current account rose to $US100.3 billion ($A108.52 billion) in the third quarter, up 1.9 per cent from the revised $US98.4 billion deficit in the April-June period.

The increase occurred despite a drop in the trade deficit for goods and services, reflecting cheaper oil prices and a stronger dollar.The deficit widened because fines collected by the US government fell to $US27.8 billion from $US40.1 billion in the previous quarter.The current account is the broadest measure of trade, covering not only the flow of goods and services but also investment flows.

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