The Commerce Department said on Sept. 16 that the U.S. current account deficit fell 5.5% in the second quarter to its lowest level in more than seven years.
The current account gap stood at $98.8 billion in the April-June period, the smallest deficit since the fourth quarter of 2001.
The second quarter decline in the current account, viewed as the broadest measure of trade and income flows, followed a revised first-quarter number of $104.5 billion.
A sharp drop in the deficit on goods "more than accounted for" the overall decrease in the deficit, the department said.
Copyright Agence France-Presse, 2009