Economic Buzz: US current account deficit hits 3% of GDP in June quarter

The US current account balance stood at -$246 Billion or B in June quarter, compared with the -$212.6B for Q1 2026 (revised from -$226.8B), according to data released by the Bureau of Economic Analysis on Thursday. This 15.7% increase in deficit reflected an expanded deficit on goods. Data showed that Q2 deficit was 3% of current dollar gross domestic product, up from 2.7% in the first quarter. Exports of goods and services to, and income received from, foreign residents increased $58.8B to $1.44 trillion in the second quarter, while imports of goods and services from, and income paid to, foreign residents jumped $92.2B to $1.69 trillion.

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