US Current Account for Q3 -$217.1B vs -$222.0B estimate

• Prior balance -$251.1B revised to -$238.7B
• Current account balance -$217.1B vs -222.0B estimate
• The deficit was 3.4% of current dollar gross domestic product down from 3.8% in the second quarter
• The $21.6 billion narrowing of the current account deficit in the third quarter reflected a decrease deficit on goods that was partly offset by a decrease of surplus on primary income increase deficit on secondary income
• Export of goods and services to and income received from foreign residents increased $26.5 billion to $1.14 trillion
• Imports of goods and services from an income paid to foreign residents increased to $4.8 billion to $1.35 trillion
• export of goods increase $7.2 million to $547 billion
• imports of goods decreased $32.5 billion to $818.2 billion
• export of the services increased $4.9 billion-$234 billion
• imports of the services increased $1.6 billion to $173.5 billion

The US runs a trade deficit each and every quarter. Deficits are a negative to GDP growth. However, US GDP is measured on the quarter over quarter basis. As a result, a more narrow deficit is a positive all things being equal.

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