The U.S. current account deficit increased more than expected in the fourth quar...
WASHINGTON - The U.S. current account deficit increased more than expected in the fourth quarter amid declining exports, pushing the overall shortfall in 2018 to its highest level in 10 years, and U.S. companies repatriated a record amount of foreign earnings last year following the Republican tax overhaul.
Data for the third quarter was revised to show the deficit rising to $126.6 billion from the previously reported $124.8 billion. Economists polled by Reuters had forecast the current account deficit rising to $130.0 billion in the fourth quarter. The deficit on the current account has shrunk from a peak of 6.2 percent of GDP in the fourth quarter of 2005, in part because of a significant increase in the volume of oil exports.
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