Falling US exports widen 3rd quarter current account trade deficit to $124.1 …

23 Dec 2015 | Author: | No comments yet »

Falling U.S. exports widen 3Q trade deficit.

Washington • A drop in exports of petroleum and other U.S. goods increased the deficit in the broadest measure of U.S. trade in the July-September quarter. WASHINGTON (MarketWatch) — The U.S. current-account deficit, a measures of the nation’s debt to other countries, rose 11.7% in the third quarter to the highest level since 2008.(ShareCast News) – The US third quarter current account deficit widened to its highest level in nearly seven years, according to data from the Commerce Department.

Official figures showed the deficit increased 11.7% to $121.4bn as US exports fell due to a stronger dollar, making it the biggest shortfall since the final quarter of 2008 and larger than economists had expected. At the same time, other major central banks, such as the European Central Bank and Bank of Japan, are still taking steps to lower rates and stimulate growth. That will slightly boost rates on credit cards and home equity lines of credit, but mortgage rates and auto loans aren’t likely to rise much anytime soon.

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