US current account deficit widens sharply in second quarter on imports
- Posted on September 19, 2024
- By Business News Today
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US current account deficit widens sharply in second quarter on imports
The U.S. current account deficit surged in the second quarter, reaching $266.8 billion, its highest level in over two years. This increase was driven by a rise in imports of goods, particularly capital and consumer goods. The deficit now represents 3.7% of GDP, up from 3.4% in the first quarter.
