US: Current-account deficit increased to $116.8 bln in Q1 2017
|According to a recent report released by the Bureau of Economic Analysis, the U.S. current-account deficit increased to $116.8 billion (preliminary) in the first quarter of 2017 from $114.0 billion (revised) in the fourth quarter of 2016.
Key highlights:
- The deficit increased to 2.5 percent of current-dollar gross domestic product (GDP) from 2.4 percent in the fourth quarter.
- The $2.8 billion increase in the current-account deficit reflected a $5.3 billion increase in the deficit on goods and a $3.6 billion decrease in the surplus on primary income that were partly offset by a $5.8 billion decrease in the deficit on secondary income and a $0.3 billion increase in the surplus on services.
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