U.S. current account deficit narrows in third quarter

• The U.S. current account deficit fell to more than a one-year low in the third quarter as imports declined sharply and the surplus on primary income swelled, government data showed on Thursday.
• The Commerce Department said the current account deficit, which measures the flow of goods, services and investments into and out of the country, decreased 0.9% to $124.1 billion last quarter, the lowest level since the second quarter of 2018.
• Data for the second quarter was revised to show the deficit declining to $125.2 billion, instead of the previously reported $128.2 billion.
• Economists polled by Reuters had forecast the current account deficit would tighten to $122.1 billion in the third quarter.

(Source: Reuters)