US: Current-account deficit increased to $123.1 billion in the second quarter of 2017

Eren Sengezer FXStreet

"The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017," the Bureau of Economic Analysis (BEA) announced on Tuesday.

Key takeaways:

The deficit increased to 2.6 percent of current-dollar gross domestic product (GDP) from 2.4 percent in the first quarter.
The $9.6 billion increase in the current-account deficit reflected a $7.5 billion increase in the deficit on secondary income, a $2.9 billion decrease in the surplus on primary income, and a $0.8 billion increase in the deficit on goods.
These changes were partly offset by a $1.6 billion increase in the surplus on services.
Exports of goods and services and income receipts increased $2.2 billion in the second quarter to $836.8 billion.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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