The U.S. current account trade deficit narrowed in the April-June period, pushed lower by an increase in American exports and cheaper oil imports.
The Commerce Department said Tuesday that the deficit in the current account decreased 12.1 percent to $117.4 billion in the second quarter. That’s down from a deficit of $133.6 billion in the January-March quarter, which had been the largest in three years.
Economists watch the current account as a sign of how much the U.S. needs to borrow from foreigners.
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