Summary US current account trade deficit narrowed in April-June quarter to lowest level in 3 years.
WASHINGTON (AP) - The US current account trade deficit narrowed in the April-June quarter to the lowest level in nearly three years.
The Commerce Department says the current account deficit fell to $98.9 billion in the second quarter, a drop of 5.7 percent from thefirst-quarter deficit of $104.9 billion.
The spring deficit was the lowest since a $93.8 billion imbalance in the third quarter of 2009, a period when the Great Recession had cut into demand for foreign goods.
The current account is the country s broadest measure of trade. It tracks not only the sale of goods and services but also investment flows.
The improvement in the second quarter represented a drop in the deficit for goods and increases in the surpluses on services and investment income.
