Current Account Deficit Narrows |
| Wall Street Journal - Mar 17, 2008 |
The U.S. current account deficit narrowed sharply during the fourth quarter as the surplus on income rose dramatically.
Meanwhile, industrial production fell more than Wall Street expected in February, and the Federal Reserve Bank of New York said its Empire State Manufacturing survey showed business conditions plunged to a record low in March, the lowest in the survey's seven-year history.
The current account deficit decreased to $172.9 billion during October through December from a revised $177.4 billion in the third quarter, the Commerce Department said Monday. The third-quarter deficit was originally reported as $178.5 billion.
For all of 2007, the deficit fell to $738.6 billion, down from $811.5 billion in 2006.
Read Full Article from Wall Street Journal
- Posted: 2008-03-17 09:38:36
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