The U.S. current account deficit narrowed sharply in the first quarter as import...
FILE PHOTO: Shipping containers are pictured at Yusen Terminals on Terminal Island at the Port of Los Angeles in Los Angeles, California, U.S., January 30, 2019. REUTERS/Mike Blake/File Photo
The Commerce Department said on Thursday the current account deficit, which measures the flow of goods, services and investments into and out of the country, fell 9.4% to $130.4 billion. Economists polled by Reuters had forecast the current account deficit shrinking to $124.6 billion in the first quarter. The current account gap represented 2.5% of gross domestic product in the January-March quarter, down from 2.8% in the fourth quarter.
In the first quarter, exports of goods rose 0.6% to $419.3 billion, while imports dropped 2.1% to $635.9 billion.
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