Current Account in USA
USA - Current Account (billions of U.S. Dollars)
GDP contracted at the fastest pace on record in Q2 following a plunge in domestic demand amid Covid-19 containment measures. The external sector contributed positively to the reading, although this was due to a collapse in imports. Turning to Q3, activity is recovering as lockdown measures have eased since May, but the reopening has varied across states due to the uneven spread of new cases. In July, the unemployment rate dipped 0.9 percentage points, while retail sales edged higher, albeit at a softer pace than in May–June. Moreover, the fall in industrial production eased slightly in July and the IHS Markit manufacturing PMI hit its highest level since January 2019 in August. That said, consumer confidence dipped to a multi-year low in August due to the uncertainty surrounding the pandemic, while the lack of political agreement on further fiscal stimulus risks hurting the economy ahead.United States - Current Account (USD bn) Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Current Account Balance (USD bn) | -407.8 | -428.4 | -439.7 | -491.0 | -498.4 |
United States Current Account (USD bn) Chart
United States Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.92 | -0.43 % | Dec 31 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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United States: Second estimate confirms GDP contracts at historic rate in Q2
August 27, 2020
The economy declined at the sharpest rate on record in the second quarter as the pandemic and measures to contain it toppled activity.
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United States: Home price growth slows in June
August 25, 2020
The S&P/Case-Shiller 20-city composite home price index—excluding Detroit due to reporting delays—eased to 0.2% month-on-month in June, down from May’s 0.4% rise.
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United States: Consumer confidence falls to the lowest level since May 2014 in August
August 25, 2020
The Conference Board’s consumer confidence index decreased to 84.8 in August from 95.9 in July.
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United States: Retail sales growth moderates in July
August 14, 2020
Nominal retail sales increased 1.2% in month-on-month seasonally-adjusted terms in July.
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United States: Inflation increases in July
August 12, 2020
Consumer prices rose 0.59% over the previous month in July, slightly stronger than June’s 0.57% dip.
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