The U.S. current account deficit fell to more than a one-year low in the third q...
WASHINGTON - The U.S. current account deficit fell to more than a one-year low in the third quarter as imports declined sharply and the surplus on primary income swelled, government data showed on Thursday.
Data for the second quarter was revised to show the deficit declining to $125.2 billion, instead of the previously reported $128.2 billion. The United States is now a net exporter of crude and fuel on a quarterly basis, helping to curb the import bill. It is set to achieve that coveted status for the first time on record on an annual basis in 2020, the U.S. Energy Information Administration said last week, the result of a production surge that has dramatically reduced the nation’s dependence on foreign oil.
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