US Current Account Deficit Jumps 53% in Q2

The US current account deficit rose to the highest level in nearly 12 months in Q2, as the Covid-19 pandemic put pressure on exports of goods and services.

The US Commerce Department said the current account deficit, which measures the flow of goods, services and investments into and out of the country, jumped 52.9% to $ 170.5 billion in the previous quarter, the highest level since Q3 of 2008.

Q1 data has been revised upward to show a deficit of $ 111.5 billion, instead of $ 104.2 billion previously estimated.

Economists polled by Reuters had expected the current account deficit to increase to $ 157.9 billion between April and June.