Keeping you up to date on the latest data releases.
- Current Account
The US current account deficit decreased to −$98.9 billion in the second quarter of 2013, a $6 billion decrease from the first quarter’s revised $104.9 billion deficit (−$106.1 billion, previously). The current account deficit has now decreased four of the past five quarters. The contraction in the second quarter was driven by a decrease of $3.8 billion to $175.7 billion in the goods deficit and increases in both the surplus on income ($2.2 billion to $53.1 billion) and the surplus on services ($1.1 billion to $57.9 billion). Exports of goods, services, and income increased 0.9 percent to a level of $756.5 billion, while imports fell −0.1 percent to a level of $821.1 billion. As a percent of GDP, the current account decreased to &minus2.4 percent (from −2.5 percent).