The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, narrowed by $2.4 billion, or 1.1 percent, to $212.1 billion in the second quarter of 2023, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). The revised first-quarter deficit was $214.5 billion. The second-quarter deficit was 3.2 percent of current-dollar gross domestic product, up less than 0.1 percent from the first quarter. The $2.4 billion narrowing of the current-account deficit in the second quarter ... (full story)