Published: 2024-09-12T16:29:30.000Z
Preview: Due September 19 - U.S. Q2 Current Account - Deficit to reach a two year high
Senior Economist , North America
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We expect a Q2 US current account deficit of $259.0bn, or 3.6% of GDP, up from $237.6bn in Q1 when the deficit was 3.4% of GDP. This will be a two year high for the deficit.
The deterioration in the deficit will be largely due to an increase in the goods trade deficit for which data has been already released, with an improvement in the services surplus being marginal.
Still to be released are data on primary (investment) income and secondary (unilateral transfers) income. Fed flow of funds data suggests a deterioration in the former balance will outweigh a marginal improvement in the latter, adding to the increase in the current account deficit.
