Keeping you up to date on the latest data releases.
- Current Account
In the third quarter of 2012, the U.S. current account deficit contracted to −$107.5, a 10.6 billion decrease from the second quarter’s revised −$118.1 billion deficit (−$117.4 billion, previously). The narrowing marks the second consecutive quarter of contractions in the deficit. As a percentage of GDP, the current account fell 0.3 percentage points to 2.7 percent, the smallest ratio since the fourth quarter of 2009. Driving the overall contraction, the goods deficit fell $11.8 billion—the largest contraction since the first quarter of 2009‐to a level of $173.9 billion while the services surplus increased $1.1 billion to $49.4 billion. Exports of goods, services, and incomes increased in the third quarter by $1.2 billion to a level of $736.9 billion. Imports of goods, services, and incomes contracted for the second consecutive quarter, decreasing $10.4 billion to $810.6 billion