Friday, December 16, 2005

Good news!

Sorta!


WASHINGTON - America's deficit in the broadest measure of international trade showed a slight improvement in the July-September quarter although it was still at the third highest level in history.


The Commerce Department reported that the deficit in the U.S. current account totaled $195.8 billion in the third quarter. That was down 1 percent from the deficit in the April-June quarter of $197.8 billion, which had been a 0.4 percent improvement from the record deficit of $198.7 billion set in the first three months of the year.

The third quarter figure was below the $205 billion imbalance that had been forecast. Analysts said payments by foreign insurance firms to settle damage claims stemming from hurricanes Katrina and Rita accounted for most of the improvement.

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