U.S. Account Deficit increases 1st Quarter 2012

According to a Thursday, June 16th, 8:30 A.M. release by the Bureau of Economic Analysis, the U.S. current account deficit, the combined balances on trade in goods and services, income, and net unilateral current transfers increased to $137.3 billion in preliminary figures in the 1st Quarter 2012, from $118.7 billion in the 4th Quarter of 2011.

The bureau further reported that most of the increase in the current account deficit was accounted for by a decrease in the surplus on income and in increase in the deficit on goods and services, the bureau stated.

Itemized just for goods, the deficit for goods increased to $194.5 billion in the first Quarter from $189.3 billion in the 4th quarter.

Total goods exports increased to $388.5 billion from $382.2 billion.  Exports of four of the six major end-use categories increased.

In summary, the account deficit increased even though U.S. goods exports increased in most major categories.

U.S. Account Deficit info Resources info:

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U.S. Department of Commerce – Helps american businesses become more innovative at home and competitive abroad.

U.S. Bureau of Economic Analysis – Provides statistics on consumer spending, corporate profits, travel and tourism and much more.

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