12 December 2001, 16:41 US Q3 current acccount deficit 95.0 bln usd vs revised 107.6 bln in Q2
WASHINGTON (AFX) - The US current account deficit narrowed to 95.0
bln usd in the third quarter from a revised 107.6 bln in the second
quarter, the Commerce Department said.
This is the smallest deficit since the fourth quarter of 1999.
The narrowing of the current account deficit was in line with Wall
Street forecasts.
In the second quarter, the current account deficit had been
originally reported at 106.5 bln usd.
A decrease in the deficit for goods and services in the third
quarter more than offset small increases in the deficit on income and
in net unilateral current transfers, the department said.
The deficit on goods and services narrowed to 77.6 bln usd in the
third quarter from 90.5 bln in the second quarter.
The income deficit was virtually unchanged at 5.0 bln usd.
Unilateral current transfers were net outflows of 12.4 bln usd in
the third quarter, up from net outflows of 12.0 bln in the second
quarter.
Net foreign purchases of US securities other than US Treasury
securities were 77.5 bln usd in the third quarter, down from 140.5 bln
in the second quarter. Net foreign purchases of US stocks were 7.5 bln
usd in the third quarter, down from 40.6 bln in the second. "The US
recession and uncertain financial conditions significantly reduced the
attractiveness of US stocks," the department said.
Net foreign sales of US Treasury securities were 9.4 bln usd in the
third quarter, up from 8.7 bln in the second quarter.
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