U.S. current account deficit narrowed in Q2

The U.S. current account deficit narrowed to $117.4 billion in the second quarter of 2012, $133.6 billion in the first quarter, the Commerce Department reported on Tuesday. Analysts had predicted U.S. current account balance to fall to -125.5B last month. The decline may be, mostly, explained by the fall in oil prices and a larger surplus in income payments.