The US current account deficit, the combined balances on trade in goods and services, income, and net unilateral current transfers, expanded to $119.3 billion (preliminary) in the Q1 of 2011, from $112.2 billion (revised) in the Q4 of 2010.
"The increase was more than accounted for by an increase in the deficit on goods. Increases in the surplus on income and the surplus on services and a decrease in net unilateral current transfers were partly offsetting", said the Bureau of Economic Analysis.
Despite the deficit increased, this result is better than expected, as market's forecast was around a $126.00 billion deficit for the March quarter 2011.
Tags: current account increase accounted surplus services unilateral transfers
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