Current Account in USA
USA - Current Account (billions of U.S. Dollars)A second estimate confirmed that the economy contracted in Q1, driven by lower private inventory investment and defense spending, and a negative contribution from net exports. However, the economy’s underlying strength remained intact, with private consumption and fixed investment gaining steam. Turning to Q2, GDP is likely rebounding and is set to grow above 3.0% in quarter-on-quarter SAAR terms, as the contributions from net exports, government spending and inventories improve. Moreover, consumer spending has so far remained robust in the face of elevated price pressures—as shown by brisk retail sales growth in April—thanks to strong employment gains, the fading impact of the pandemic and households running down savings. That said, widespread labor shortages are constraining business activity, and PMI data suggests the manufacturing sector lost some steam at the outset of Q2.
United States - Current Account (USD bn) Data
|Current Account Balance (USD bn)||-407.8||-428.4||-439.7||-491.0||-498.4|
5 years of economic forecasts for more than 30 economic indicators.
United States Current Account (USD bn) Chart
United States Facts
|Bond Yield||1.92||-0.43 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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November 16, 2022
Retail sales increased 1.3% month-on-month in seasonally-adjusted terms in October (September: 0.0% mom).
November 10, 2022
Inflation came in at 7.7% in October, down from September’s 8.2%.
November 4, 2022
Total non-farm payrolls increased by 261,000 in October, down from 315,000 in September but beating market expectations.
November 2, 2022
At its meeting on 1–2 November, the Federal Open Market Committee (FOMC) decided to raise the target range for the federal funds rate by 75 basis points to 3.75–4.00%—the fourth successive 75 basis-point hike. The decision to hike was aimed at containing inflation, which has been running well over the Central Bank’s 2.0% target in recent months due to external price pressures and the tight domestic labor market.
October 27, 2022
GDP rebounded in Q3, expanding 2.6% in seasonally adjusted annualized rate terms (SAAR), contrasting the 0.6% contraction recorded in the second quarter and coming in slightly above market expectations. Household spending increased 1.4% in the third quarter, which was below the second quarter's 2.0% expansion, with consumption likely weighed on somewhat by elevated inflation.