(MENAFN) The US current account deficit surged unexpectedly in the July-September period as an increase in exports was offset by a re-widening of the secondary income shortfall, The Peninsula Qatar reported.
The country's current account deficit increased by 1.9 percent to USD100.3 billion from a deficit of USD98.4 billion recorded in the second-quarter period, The Commerce Department said.
The figures were higher than economists' expectations that the deficit would narrow to USD97.5 billion, while it represented 2.3 percent of gross domestic product, unchanged from the second quarter.
The deficit on secondary income increased to USD34.9 billion in the period from USD22 billion in the second quarter. Secondary income receipts fell to USD27.8 billion from USD40.1 billion.
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