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.