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    U.S. current account deficit widens to $113.5 billion in the fourth quarter, the largest decline since the second quarter of 2012 | 19.03.2015

     

    The U.S. Commerce Department released its current account data on Thursday. The U.S. current account deficit widened to $113.5 billion in the fourth quarter from $98.9 billion in the third quarter, missing expectations for a deficit of $103.0 billion. It was the largest decline since the second quarter of 2012.

     

     

    The third's quarter figure was revised up from a deficit of $100.3 billion.

     

     

    The increase was driven by the slowdown in economic growth in the fourth quarter.

     

     

    Goods exports fell 1.2% to $410.1 billion as exports of U.S. petroleum and automobiles dropped.

     

     

    Imports of goods decreased 0.1% to $595.3 billion due to lower petroleum imports.

     

     

    In 2014 as a whole, the current account deficit climbed 2.6% to $410.6 billion. It was the largest annual deficit since 2012.


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