US current account for the second quarter -190.3 billion versus -193B estimate

US current account for the 2Q.

• current-account $-190.3 billion versus -193 billion estimate.
  
• 1Q deficit came in at  $-196 billion
  
• the 2Q deficit was 3.3% of the current dollar gross domestic product which is down from 3.4% in the 1Q
  
• The $0.9 billion widening mainly reflected reduce surpluses on services and on primary income that were mostly offset by reduced deficit on secondary income. 

The US runs a service surplus with the global economy along with primary income. On the good side, the trade flows are heavily in a deficit as US imports way more goods than they export abroad. Secondary income is also a deficit generally.

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September 22, 2021 at 12:33AM
Greg Michalowski
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