Current Account in USA
USA - Current AccountSocial distancing to contain the Covid-19 pandemic caused the economy to contract at the sharpest rate since the end of 2008 in the first quarter. Consumer spending and business investment plunged, while exports also shrank at a rapid clip amid disrupted global trade. Q1â€™s dismal result, however, will pale in comparison to the unprecedented contraction expected in Q2. Initial jobless claims topped 30 million in the six weeks ending 25 April. In tandem, consumer confidence plummeted in April on elevated uncertainty over the economic situation and the frail labor market. As the true impact of the Great Lockdown continued to take shape, Congress passed its fourth economic relief package of USD 484 billion in late April which replenished the Paycheck Protection Programâ€”a small business fund which dried up in mid-Aprilâ€”and provided additional funds for hospitals and testing.
United States - Current Account Data
|Current Account (% of GDP)||-2.1||-2.2||-2.3||-2.3||-2.4|
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|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
May 15, 2020
Write intro here Nominal retail sales declined at the sharpest rate in the series’ near three-decade history in April, falling 16.4% in month-on-month seasonally-adjusted terms.
United States: Labor market endures record 20.5 million job losses; unemployment hits record high in April
May 8, 2020
Total non-farm payrolls fell by 20.5 million in April, plunging at the sharpest rate since the series began in 1939 as the labor market reels from the Covid-19 pandemic and measures to halt its spread.
May 1, 2020
The Institute for Supply Management (ISM) manufacturing index fell to 41.5 in April from 49.1 in March, marking the lowest level in 11 years.
April 29, 2020
The economy shrank at the sharpest rate since Q4 2008 in the first quarter as the pandemic and measures to contain it hammered activity.
United States: Fed stresses commitment to deploying full arsenal to support ailing economy at April meeting
April 29, 2020
At its 28–29 April meeting, the Federal Open Market Committee (FOMC) held the target range for the federal funds rate at its effective floor of 0.00%–0.25%.