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“The U.S. current-account deficit decreased to $101.5 billion (preliminary) in the second quarter of 2018 from $121.7 billion (revised) in the first quarter of 2018,”  the Bureau of Economic Analysis (BEA) reported on Wednesday.

Key takeaways from the press release

  • The deficit was 2.0 percent of current-dollar gross domestic product (GDP) in the second quarter, down from 2.4 percent in the first quarter.
  • The $20.3 billion decrease in the current-account deficit reflected a $17.6 billion decrease in the deficit on goods, a $2.5 billion increase in the surplus on services, and relatively small and offsetting changes in the balances on primary income and secondary income.
  • Exports of goods and services and income receipts increased $28.0 billion in the second quarter to $933.3 billion.