Headline: Current account deficit narrowed to $118 billion, in the second quarter of 2011.The narrowing deficit could be the effect of a slowdown in the U.S. economy.
Expectations: The current account deficit is expected to widen to $122 billion.
Analysis: The current account measures U.S. international trade balance by measuring goods, services, income and current transfers.
It’s typically one of many indicators that helps identify net creditor and net debtor nations. The current account deficit stood at $119.3 billion in the first quarter.
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