Brazil June Current Account Deficit Wider Than Forecast

Brazil’s June current account deficit was wider than economists forecast, as imports fall amid an economic slowdown.

The deficit in the current account, the broadest measure of trade in goods and services, narrowed in June to $2.5 billion from a revised $3.3 billion a month earlier, the central bank said in a report distributed today in Brasilia. Foreign investment in Brazil during the month fell to $5.4 billion from $6.6 billion. Economists surveyed by Bloomberg forecast a deficit of $2.1 billion and foreign investment of $4.5 billion for last month.

Brazil’s real has weakened as political turmoil, corruption scandals and a looming recession affect the economy.

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