Current Account in USA
USA - Current AccountThe economy likely recovered robustly in Q3, after Q2’s unprecedented contraction due to the blow dealt by Covid-19. In September, the unemployment rate dropped 0.5 percentage points from the month prior while non-farm payrolls continued to rise, although they were still down 10.7 million compared to February. This, coupled with consumer confidence hitting a six-month high, likely boosted private spending, as suggested by a jump in auto and clothing sales in the same month. Furthermore, upbeat construction activity and a surge in housing starts in Q3 should have supported residential investment. Meanwhile, Joe Biden and the Democrats are currently leading the polls ahead of the presidential elections on 3 November. Under a Biden administration, economic growth would likely benefit from increased spending on infrastructure and social security, as well as a less disruptive foreign trade policy.
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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January 8, 2021
Total non-farm payrolls fell 140,000 in December, and missed market analysts’ expectations of a 71,000 increase.
January 5, 2021
The Institute for Supply Management (ISM) manufacturing index rose to 60.7 in December from 57.5 in November, beating market expectations of 56.6 and representing the highest level since August 2018.
December 29, 2020
The S&P/Case-Shiller 20-city composite home price index—excluding Detroit due to reporting delays—increased 1.3% month-on-month in October virtually matching September’s rise—the quickest pace since August 2013.
December 22, 2020
Consumer confidence came in at 88.6 in December, down from November's 92.9.
December 16, 2020
Retail sales declined 1.1% in November (October: -0.1% s.a.