US second quarter current account deficit rises more than forecast
America's shortfall on its current account balance widened appreciably over the second quarter, mainly as imports of goods and services accelerated more quickly than sales to overseas markets.
The country's current account deficit grew from $113.5bn in the first three months of the year to $123.1bn over the second quarter, according to the Department of Commerce.
That was easily worse than the -$110.5bn deficit which economists had pencilled-in.
As a proportion of economic activity, the country's current account deficit clocked-in at 2.6% of gross domestic product, up from 2.4% in the first quarter.
Acting as a small offset, the reading for the prior month's shortfall was lowered from -$116.8bn to -$113.5bn.
Over the three months ending in June, US exports of goods and services and income receipts increased by $2.2bn to $836.8bn, while total imports and income payments rose by $11.8bn to $959.9bn.