Current Account Deficit Narrows: The deficit in...

Current Account Deficit Narrows: The deficit in the U.S. current account, the broadest measure of trade performance, fell to $22.9 billion in the first quarter, the lowest shortfall in six years, the Commerce Department said. The deficit in the fourth quarter of 1989, by contrast, was a revised $26.69 billion, instead of the $20.6 billion reported previously, the department said. The improvement during the first three months of 1990 came from a smaller merchandise trade deficit and lower transfers abroad of payments such as pensions and government grants.