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Q2 current account gap widens to $123.3 bln Economic Report - MarketWatch
WASHINGTON (MarketWatch) —
The U.S. balance of payments deficit widened sharply in the second quarter to $123.3 billion from $109.2 billion in the first quarter, the Commerce Department reported Thursday.
The increase in the second quarter deficit was largely due to a widening in the merchandise trade deficit.
The current account deficit totaled 3.4% of gross domestic product, the highest percentage since the fourth quarter of 2008.
The deficit peaked at 6.5% of GDP in the fourth quarter of 2005.