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.
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