Investing.com - The U.S. current account deficit narrowed in the third quarter of 2012, posting the smallest deficit since the fourth quarter of 2010, official data showed on Tuesday.
In a report, the U.S. Bureau of Economic Analysis said the country’s current account deficit narrowed to a seasonally adjusted USD107.5 billion in the third quarter, from a revised deficit of USD118.1 billion.
Analysts had expected the U.S. current account deficit to narrow to USD103.4 billion in the third quarter.
Following the release of the data, the U.S. dollar remained modestly lower against the euro, with EUR/USD easing up 0.11% to trade at 1.3177.
Meanwhile, U.S. stock index futures held on to gains after the release of the data. The Dow Jones Industrial Average futures pointed to a modest rise of 0.2%, S&P 500 futures indicated an increase of 0.25%, while the Nasdaq 100 futures signaled a gain of 0.6%.
In a report, the U.S. Bureau of Economic Analysis said the country’s current account deficit narrowed to a seasonally adjusted USD107.5 billion in the third quarter, from a revised deficit of USD118.1 billion.
Analysts had expected the U.S. current account deficit to narrow to USD103.4 billion in the third quarter.
Following the release of the data, the U.S. dollar remained modestly lower against the euro, with EUR/USD easing up 0.11% to trade at 1.3177.
Meanwhile, U.S. stock index futures held on to gains after the release of the data. The Dow Jones Industrial Average futures pointed to a modest rise of 0.2%, S&P 500 futures indicated an increase of 0.25%, while the Nasdaq 100 futures signaled a gain of 0.6%.