Current Account in USA
USA - Current AccountThe economy likely contracted at an even sharper pace in the second quarter as Covid-19 induced lockdowns weighed heavily on activity. In May, the unemployment rate ticked down from April’s near 40-year high, but was still roughly 10 percentage points higher than its pre-crisis level. Moreover, despite jobless claims dipping slightly in recent weeks the number of people receiving benefits was over 15% of the labor force, which will be hammering private consumption. Meanwhile, although the downturn seems to have bottomed out, some parts of the country have tightened restrictions as the seven-day moving average of daily new Covid-19 cases accelerated in recent days, boding ill for hopes of a smooth economic recovery. Furthermore, a re-emergence of tensions with China has fueled market uncertainty in recent weeks and could lead to a new round of escalation.
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|
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.
August 3, 2020
The Institute for Supply Management (ISM) manufacturing index increased from 52.6 in June to 54.2 in July, beating market expectations of 53.6 and marking the highest reading since March 2019.
July 29, 2020
The Conference Board’s consumer confidence index decreased to 92.6 in July from 98.3 in June.
July 16, 2020
Nominal retail sales increased 7.5% in month-on-month seasonally-adjusted terms in June.
July 14, 2020
Consumer prices rose 0.57% over the previous month in June, contrasting May’s 0.1% dip.
July 2, 2020
Total non-farm payrolls soared 4.8 million in June, increasing at the fastest rate since the series began in 1939, and beat market analysts’ expectations of a 3.0 million rise.