US Second-Quarter Deficit Widens to $190.3 Billion

Source: Bureau of Economic Analysis

The United States deficit widened in the second quarter, as surpluses services and primary income were outweighed by the drop in secondary income. DXY is down 0.05%.

• The current account deficit stood at $190.3 billion in the second quarter, up by $0.9 billion or 0.5% from the $189.4 billion the previous quarter.
• The deficit is equivalent to 3.3% of the current dollar gross domestic product, slightly lower than the 3.4% the previous quarter.
• The widening comes as declines were recorded in the surpluses on services and primary income, while secondary income recorded a lower deficit.
• Exports of goods and services jumped $42.7 billion to $937.9 billion, while imports gained $43.6 billion to $1.13 trillion.
• Most of the current account transaction categories posted an increase during the quarter, marking the fourth straight quarter of growth following the declines due to the COVID-19 pandemic in the second quarter of 2020.