Business

US current account deficit dips to $98.5 billion

By Martin Crutsinger
Published September 17, 2014 1:05pm ET
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US current account deficit dips to $98.5 billion
In this Friday, May 16, 2014 photo, a Maersk Line vessel is guided by a tugboat as it heads into the Port of Miami off of Miami Beach, Fla. The Commerce Department reports on the U.S. current account trade deficit for the April-June quarter on Wednesday, Sept. 17, 2014. (AP Photo/Lynne Sladky) | Lynne Sladky

WASHINGTON (AP) — The U.S. current account trade deficit narrowed slightly in the April-June quarter, reflecting gains in exports of oil and civilian aircraft and a bigger surplus in Americans’ overseas investment earnings.

The deficit in the current account shrank to $98.5 billion in the second quarter, down 3.5 percent from the revised $102.1 billion deficit in the January-March period, the Commerce Department reported Wednesday.

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Budgets and Deficits