The U.S. current account deficit increased to $124.1 billion or 3.2 percent of gross domestic product (GDP) in the fourth quarter of 2011, up from $107.6 billion or 2.8 percent of GDP in the third quarter. For 2011 overall, the current account deficit was $473.4 billion or 3.1 percent of GDP, up from $470.9 billion or 3.2 percent of GDP in 2010.
The January 2012 international trade deficit rose 4.3 percent from the prior month, to $52.6 billion. Exports increased 1.4 percent to $180.8 billion, and imports increased 2.1 percent to $233.4 billion.
Personal income in January 2012 rose 0.3 percent. Nominal personal consumption expenditures (PCE) increased 0.2 percent while real PCE was unchanged. Nominal disposable personal income (DPI) rose 0.1 percent while real DPI declined 0.1 percent. The personal saving rate as a percentage of DPI was 4.6 percent in January.
Real gross domestic product (GDP) grew at an annual rate of 3.0 percent in the fourth quarter of 2011, according to today’s second estimate. This follows a growth rate of 1.8 percent in the third quarter of 2011. Real GDP increased 1.7 percent from 2010 to 2011 overall.
The December 2011 international trade deficit rose 3.7 percent from the prior month, to $48.8 billion. Exports increased 0.7 percent to $178.8 billion, and imports increased 1.3 percent, to $227.6 billion.
The 2011 international trade deficit increased 11.6 percent from 2010, to $558.0 billion. Exports rose 14.5 percent to $2,103.1 billion, and imports increased 13.8 percent to 2,661.1 billion.
