WASHINGTON – The U.S. current account deficit increased to $137.3 billion in the first quarter of 2012, the Commerce Department reported Thursday.
The increase was 15.7% over the downwardly revised fourth quarter 2011 deficit of $118.7 billion, which was originally reported as $124.1 billion.
The deficit was greater than the median $132.1 billion estimate of economists polled by Thompson Reuters, and was the largest since it was $151.0 billion in the fourth quarter of 2008.
The first quarter deficit represented 3.6% of gross domestic product, up from 3.1% the previous quarter.
The first quarter deficit increase mostly reflected a rising deficit on goods and services, which climbed to $151.0 billion from a fourth quarter figure of $146.3 billion, the Commerce Department reported.
