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Balance of payment deficit widens in first quarter
The Commerce Department reported the nations balance of payments deficit on a current account and long term capital basis rose to 3.2 billion in the first quarter from 1.8 billion in late 1971. The measure shows a deeper long term dollar drain with a swing of about 1 billion in long term capital overseas versus U S. investments and a sharply worsened trade deficit adding 610 million from the prior quarter.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department