U.S. Current Account Deficit Hits $123.1 Billion in Q2

Washington, DC, September 19, 2017-- The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA).

The deficit increased to 2.6% of current-dollar gross domestic product (GDP) from 2.4% in the first quarter.

The $9.6 billion increase in the current-account deficit reflected a $7.5 billion increase in the deficit on secondary income, a $2.9 billion decrease in the surplus on primary income, and a $0.8 billion increase in the deficit on goods. These changes were partly offset by a $1.6 billion increase in the surplus on services.