2017 Economic Calendar
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Current Account  
Released On 12/19/2017 8:30:00 AM For Q3:17
PriorPrior RevisedConsensusConsensus RangeActual
Current Account$-123.1 B$-124.4 B$-116.7 B$-119.9 B to $-113.5 B$-100.6 B

Hurricane receipts from foreign insurance companies for losses resulting from hurricanes Harvey, Irma, and Maria shaved $24.9 billion from the nation's current account deficit to a much lower-than-expected $100.6 billion in the third quarter.

But the quarter also benefited from a $6.2 billion narrowing in the goods deficit to $195.3 billion which saw gains for capital goods exports and aircraft. Other details include a narrowing in the secondary income deficit on higher income from government fines and penalties and a widening in the primary income surplus on increases in portfolio investment income and in direct investment income.

As a percentage of GDP, the quarter's current account deficit came in at 2.1 percent, well down from 2.6 percent in the prior quarter and the lowest rate since second-quarter 2014. This report of course is skewed by the hurricane effect but other details, especially the narrowing in the goods gap, are nevertheless positive.

Consensus Outlook
Benefiting from higher exports and lower imports, the current account deficit is expected to narrow sharply in the third quarter, to $116.7 billion from $123.1 billion in the second quarter. The account deficit relative to GDP has been moderate, at 2.6 percent in the second 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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