U.S. current account gap widens to $218.4 billion

The U.S. current account deficit has increased sensibly in the second quarter of 2006, to $218.4 billion from revised $213.2 billion in the first quarter, according to the estimation of the Commerce Department.

The main reasons for this growth are to be found in the increases of the deficits on goods and income. The deficit amounts now 6.6% of the national gross domestic product and surpassed largely the $213 billion predicted by the analysts. The report announces as well the upward revision of the firs quarter deficit, to $213.2 billion from the previously estimated $208.7 billion.

The current account deficit measures the nation´s economic balance sheet with the rest of the world, it measures the nation´s debt with the rest of the world, which must be financed by loans from abroad or selling assets to foreigners