Current account deficit widens in Q3

The US current account deficit unexpectedly rose in the third quarter as an increase in exports was offset by a rewidening of the secondary income shortfall.

The Commerce Department said on Wednesday the current account gap, which measures the flow of goods, services and investments into and out of the country, rose 1.9 per cent to $100.3 billion from a revised $98.4-billion deficit in the second quarter.

Economists polled by Reuters had forecast the deficit narrowing to $97.5 billion from a previously reported $98.5 billion shortfall in the April-June quarter.