WASHINGTON — Led largely by an increase in the deficit on goods, the imbalance in the U.S. current account rose in the first quarter to $109 billion from a revised $100.9 billion in the fourth quarter, the Commerce Department reported yesterday.
The first-quarter deficit was equivalent to 3.0% of gross domestic product, up from 2.8% in the fourth quarter.
The first-quarter increase in the current account deficit was below economists’ expectations. Thomson Reuters’ median poll of economists predicted a $120.5 billion deficit for the quarter.
