US Current Account Deficit Widens in Q1

The U.S. current account deficit increased to its widest point in 1-1/2 years in the first quarter as exports slumped and the surplus on primary income declined, the Commerce Department said on Wednesday.
The current account gap, which measures the flow of goods, services, and investments into and out of the country, widened to $111.2 billion from a revised $87.3 billion deficit in the fourth quarter.

That was the largest shortfall since the third quarter of 2012.

Economists polled by Reuters had forecast the deficit widening to $96.9 billion from a previously reported $81.1 billion shortfall in the final three months of 2013.

The government revised the series going back to the first quarter of 1999. With the revisions, changes in estimation methods, definitions and classifications were also effected.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza