US current account balance for the 1st quarter
- prior month
- current account balance for the first-quarter $-104.2 billion vs. $-102.9 billion estimate
- prior month came in at $-109.8 billion revised to $-104.3 billion
- balance on goods and services $-119.05 billion with goods $-192.332 billion and services plus $73.277 billion
- the goods current account deficit improved by $10.2 billion in the 1st quarter
- the services surplus improved by $0.5 billion in the 1st quarter
The US runs a negative current account balance as result of a large goods trade balance. The service sector is a surplus for the US economy. Deficits are a drag on GDP overall. The change in the deficit will impact the annualized GDP for the quarter. The 4th quarter came in at $-104.324 billion which was not far from the 1st quarter deficit of $-104.204 billion.