U.S. current account deficit falls to three-year low
WASHINGTON (MarketWatch) - The U.S. current-account deficit, a measures of the nation's debt to other countries, sank 19% in the third quarter to the lowest level in three years. The deficit declined to $100.6 billion from $124.4 billion. The U.S. recorded a small deficit in secondary income and goods and a bigger surplus in primary income and services. The current account reveals if a country is a net lender or debtor. The current account deficit was 2.1% of GDP in the third quarter. That's down from 2.6% in the second quarter and well below a peak of 6.3% in 2005.