Keeping you up to date on the latest data releases.
- Current Account
In the first quarter of 2013, the U.S. current account deficit expanded to −$106.1 billion, a $3.8 billion increase from the fourth quarter of 2012’s revised $102.3 deficit (-$110.4 billion, previously). In the current release, the Bureau of Economic Analysis revised data going back to 1999, resulting in a slightly smaller deficit for 2012. The first quarter’s expansion in the current account deficit comes after three quarters of contractions. As a percent of GDP, the current account increased slightly to 2.7 percent (from 2.6 percent in the fourth quarter of 2012). Exports of goods, services, and income fell −0.2 percent on a quarterly basis while imports remained flat. The decrease in exports drove the overall expansion of the deficit.