Posted: Dec 16, 2009 6:57 AM by Associated Press
The deficit in the broadest measure of foreign trade posted a sharp increase in the July-September quarter, a sign that the U.S. economy was beginning to rebound as demand for foreign goods increased.
The Commerce Department said Wednesday the current account deficit rose to $108 billion in the third quarter, an increase of 10.3 percent from the second quarter. The deficit matched economists' forecasts. The increase reflected a sharp widening of the deficit in goods as American demand for imports outpaced the rise in U.S. exports.
The widening deficit was seen as evidence that the U.S. economy was beginning to rebound from the worst recession since the 1930s.