U.S. current account deficit edges down as COVID-19 restricts trade

The U.S. current account deficit dipped to a near two-year low in the first quarter as the COVID-19 pandemic restricted the flow of goods and services.The Commerce Department said on Friday the current account deficit, which measures the flow of goods, services and investments into and out of the country, slipped 0.1% to $104.2 billion (83.9 billion pounds), the smallest since the second quarter of 2018.Economists polled by Reuters had forecast the current account gap shrinking to $103 billion i