Current Account in USA
USA - Current AccountGrowth appears set to moderate in the second quarter from Q1’s strong outturn, which was flattered by inventories and net trade effects that are likely to unwind in Q2. Nevertheless, private consumption should regain steam after a weak Q1 showing, thanks largely to a rock-solid labor market which still shows healthy momentum despite a meek print in May. Low unemployment and robust wage growth are buttressing retail sales and consumer confidence, which both posted strong readings in May. On the other hand, business investment and manufacturing activity—which slowed in May according to ISM data—will likely be hit by the recent trade war escalation. On this front, all eyes are on the next G20 summit on 28-29 June, where Presidents Trump and Xi will meet. While a successful meeting could see a truce and a resumption of bilateral talks, the U.S. could also slap tariffs on an additional USD 300 billion of Chinese imports if discussions are not fruitful.
United States - Current Account Data
|Current Account (% of GDP)||-||-||-||-||-|
5 years of economic forecasts for more than 30 economic indicators.
United States Current Account Chart
United States Facts
|Bond Yield||2.13||-0.43 %||Jul 11|
|Exchange Rate||1.13||0.65 %||Jul 11|
|Stock Market||27,088||0.02 %||Jul 11|
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United States: Strong retail sales growth in June rounds out solid second quarter for consumer spending
July 16, 2019
Nominal retail sales rose 0.4% over the prior month in seasonally-adjusted terms in June, matching May’s revised 0.4% increase (previously reported: +0.5% month-on-month).
United States: Headline inflation weakens in June; Federal Reserve rate cut appears increasingly imminent
July 11, 2019
Consumer prices rose 0.1% over the previous month in June, increasing by the same margin as in May.
United States: Strong payroll gains in June assuage investors’ fear and decrease odds of a July Fed rate cut
July 5, 2019
The June jobs report released by the Bureau of Labor Statistics (BLS) showed a sharp rebound in payroll growth following a meek reading in May, suggesting that economic momentum—while waning—remains quite resilient for now, and somewhat reducing the odds that the Federal Reserve will cut interest rates at its next meeting on 30–31 July.
July 1, 2019
The Institute for Supply Management (ISM) manufacturing index fell from 52.1 in May to 51.7 in June, the lowest reading since November 2016.
June 25, 2019
Home prices registered solid monthly gains in April, but this came largely on the back of seasonal effects.