2017 Economic Calendar
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Current Account  
Released On 6/20/2017 8:30:00 AM For Q1:17
PriorPrior RevisedConsensusConsensus RangeActual
Current Account$-112.4 B$-114.0 B$-122.1 B$-128.8 B to $-109.8 B$-116.8 B

A widening in the goods deficit is the main factor behind a deepening of the nation's current account deficit, to $116.8 billion in the first quarter vs a revised $114.0 billion in the fourth quarter. The goods deficit totaled $200.3 billion in the quarter, up $5.3 billion from the fourth quarter and dwarfing a $0.3 billion rise in the nation's service surplus to $61.3 billion.

A narrowing in the nation's surplus on primary income was another negative, falling $3.6 billion to $47.7 billion and reflecting a slowing in direct investment income. A positive in the report is a narrowing in the secondary income deficit (current transfer receipts), down $5.8 billion to $25.5 billion.

As a percentage of GDP, the current account edged 1 tenth higher to a still moderate 2.5 percent. This ratio had been over 3.0 percent early in the expansion. Today's report includes annual revisions.

Consensus Outlook
The current account deficit is expected to widen sharply in the first quarter, to $122.1 billion from $112.4 billion in the fourth quarter. Yet the range of estimates is wide, from $128.8 billion at the low end to $109.8 billion at the high end. The account deficit relative to GDP has been moderate, at 2.4 percent in the fourth quarter.

The current account measures the United States' international trade balance in goods, services, and unilateral transfers on a quarterly basis. Readings in this report track trends in cross-border trade.  Why Investors Care

2017 Release Schedule
Released On: 3/216/209/1912/19
Release For: Q4:16Q1:17Q2:17Q3:17

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