The US current-account deficit widened by $33.4 billion, or 15.7%, to $246 billion in the second quarter, Commerce Department data showed. Goods imports rose $67.4 billion to $931.6 billion, outpacing a $27.1 billion increase in goods exports.
The deficit equaled 3.0% of GDP, compared with 2.7% in the first quarter, whose shortfall was revised down to $212.6 billion from $226.8 billion. The goods trade deficit widened $40.4 billion to $291.3 billion; trade subtracted 1.14 percentage points from second-quarter GDP, its third consecutive quarterly drag.
The US international investment position deteriorated to a $22.42 trillion deficit at the end of the second quarter, from $21.27 trillion in the first quarter. US residents’ foreign assets totaled $46.97 trillion, while liabilities were $69.39 trillion.
