Current Account in USA
USA - Current AccountEconomic activity appears to have recovered robustly in Q3, after GDP contracted at the fastest pace on record in Q2 due to a plunge in domestic demand amid Covid-19 containment measures. In August, the unemployment rate dropped 1.8 percentage points from the month prior while non-farm payrolls continued to rise, although they were still down 11.5 million compared to February. Moreover, retail sales continued to grow in August, albeit at the softest pace in four months as additional weekly unemployment benefits for roughly 25 million unemployed people expired at the end of July. Nevertheless, private consumption should have still rebounded firmly in Q3 compared to the previous quarter. That being said, consumer confidence remained downbeat in August, which, coupled with uncertainty over the timing of another coronavirus relief package, should limit retail sales growth ahead.
United States - Current Account Data
|Current Account (% of GDP)||-2.2||-2.3||-2.3||-2.4||-2.3|
5 years of economic forecasts for more than 30 economic indicators.
United States Current Account Chart
United States Facts
|Bond Yield||1.92||-0.43 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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October 13, 2020
Consumer prices rose 0.20% over the previous month in September, weaker than August’s 0.37% rise.
October 1, 2020
The Institute for Supply Management (ISM) manufacturing index decreased slightly from 56.0 in August to 55.4 in September, and missed market expectations of 56.4.
September 29, 2020
The Conference Board’s consumer confidence index increased from 84.8 in August to 101.8 in September.
September 29, 2020
The S&P/Case-Shiller 20-city composite home price index—excluding Detroit due to reporting delays—increased 0.6% month-on-month in July, up from June’s 0.3% rise.
September 16, 2020
Nominal retail sales increased 0.6% in month-on-month seasonally-adjusted terms in August, moderating from July’s 0.9% growth and missing market expectations of a 1.0% increase.