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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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