NewsFlash: June 19, 2008
Current Account deficit deepens due to falling profits on US foreign investment
Although the current account, the broadest measure of the trade deficit, rose in part due to sharp increases in oil prices, most of the increased deficit can be blamed on sluggish returns on U.S. investments abroad. Today’s International Picture, by senior economist Robert Scott, says an analysis of the latest current accounts shows there is a slowdown in the global as well as domestic economy.
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