US current account deficit falls to 14-year low
WASHINGTON -- Large increases in exports and overseas investment income narrowed the U.S. current account deficit to the lowest level in 14 years in the October-December quarter.
The Commerce Department says the imbalance fell to $81.1 billion in the fourth quarter, down from $96.4 billion in the July-September quarter. That's the smallest gap since the third quarter of 1999.
The rise in goods exports was driven by petroleum and agricultural products.
The current account is the country's broadest measure of trade, covering not only goods and services but also investment flows. A smaller... read more
- 12:24 Melania Trump to discuss Africa trip Wednesday in New York
- 11:47 US warns Russia over missile defense for Syria
- 11:34 VIDEO: What you need to know from the first Beto-Cruz debate, in 13...
- 11:02 The Latest: AP source says Rosenstein expecting to be fired
- 11:02 Trump no statehood for Puerto Rico with critics in office
- 11:02 Trump says he hasn't decided whether to fire Rosenstein
- 06:46 Eyeing White House, Cory Booker introduces himself to Iowa
- 01:52 Weighing whether to can Rosenstein, Trump tuned in TV hosts
- 01:52 Some farmers worry Trump's bailout checks won't be enough
- 00:54 Trump, at UN, to again confront North Korea's nuclear threat