Data Digest: U.S. consumer purchases of imports lifts current account deficit
Current account for 2Q
The numbers: The current account trade deficit grew to $123.3 billion in the second quarter -- a 12.9 percent increase from the first quarter. This is the fourth quarter of increases and the highest amount since late 2008.
Quick take: The current account -- the broadest measure of trade, which tracks the flow of goods, services and investments -- showed that American consumers are buying more imports such as cars and computers.
What it means for you: This is a positive sign for Americans' appetite for spending.
Data source: Commerce Department
Ariana Eunjung Cha
September 16, 2010; 10:21 AM ET
Categories: *Data Digest
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