US Current Account Balance Sunday, September 17, 2006
Outlook: US Current Account deficit is expected to expand to a near record –213.0 Billion for the second quarter of 2006 as widening Trade deficits will likely show further deterioration in US balance sheet position. This week's record trade deficit of –68 Billion showed that US import demand for both energy and non-energy goods and services remains unabated and will continue to contribute to creating a Current Account deficit which is fast approaching one trillion dollar mark on an annual basis.
Previous: The U.S. current-account deficit shrank more than forecast in the first quarter from a record in the previous three months as the trade balance improved and Americans earned more on their overseas investments. The deficit, the broadest measure of trade because it includes transfer payments and investment income, declined to $208.7 billion from a revised $223.1 billion the previous three months, the Commerce Department said today in Washington. The gap narrowed to 6.4 percent of the economy from 7 percent in the fourth quarter.
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