The imbalance in the current account increased in the first quarter to $176.4 billion from a revised $167.2 billion in the fourth quarter, previously reported as a $172.9 billion deficit, the Commerce Department reported yesterday.

IFR Markets predicted a $172.0 billion deficit.

The balance on goods was a deficit of $211.032 billion, while services posted a $36.112 surplus, for a balance on goods and services of a $174.920 billion deficit.

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