By Ovunc Kutlu
ANKARA (AA) - The US current account deficit widened in the third quarter to its highest level since 2006, according to Commerce Department data released Tuesday.
The deficit, which measures the import and export flow of goods, services and capital transfers and investments, widened $16.5 billion, or 8.3%, to $214.8 billion from the previous quarter.
While the market expectation was $205.5 billion, the deficit in the second quarter was revised to $198.3 billion from $190.3 billion.
The deficit represented 3.7% of gross domestic product (GDP) in the third quarter, up from 3.5% in the second.