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:
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.
Entrepreneurworld – Resource for Entrepreneurs, including starting your own business, growing your business.
Bureau of Labor Statistics – Provides companies with up to date information on employment, demand, hiring, productivity and other information that may be useful to companies.
International Trade Administration – Creates jobs and economic growth by promoting U.S. companies abroad to governments in other countries.
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Department of Labor – Provides information on many labor issues that can be useful to companies, such as insurance, regulation, wages, wage hours, compensation, safety and health
U.S. Patent and Trademark Office – U.S. office to file patents to protect a companies new or existing proprietary products.
U.S. Trade and Development Agency – Promotes U.S. Exports to Foreign Countries, please review if your company is interested in exporting goods to foreign countries.
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E-Network for CEOs – Online articles and much more for CEO’s
Public Radio Planet Money – All issues money related to the public.
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