THE ECONOMIST : America’s current-account deficit dropped sharply in the first quarter, to $101.5 billion (or 2.9% of GDP), its lowest level since the last quarter of 2001. The main reason was the steep decline in imports, particularly oil and oil products and industrial supplies and materials.
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Current account trade deficit drops to $101.5B
http://www.readingeagle.com/article.aspx?id=143463
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