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current account deficit posts

Energy costs push consumer prices higher

Posted Dec 16th 2009 11:10AM by Connie Madon (RSS feed)
Filed under: Industry, Consumer Experience, Economic Data, Housing

You don't need to read the numbers to know that you are paying more to gas up your vehicle. Gasoline prices have risen about 14% last month. The Labor Department reported that consumer prices rose 0.4% in November. The core rate that excludes food and energy was flat. The core rate is meaningless because food and energy are the key costs that affect all Americans.

The Commerce Department reported that new home construction rose 8.9% in November to a seasonally adjusted rate of 574,000 units. That was stronger than economists had predicted. Applications for new building permits were also up 6.0% to 584,000.

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U.S. Q3 current account deficit declines -- better, but still not good

Posted Dec 17th 2007 2:12PM by Joseph Lazzaro (RSS feed)
Filed under: Good news, India, China, Economic Data

The U.S.'s current account deficit decreased to $178.5 billion in Q3 2007, down from a revised $188.9 billion in Q2 2007, the U.S. Commerce Department announced Monday, as exports of capital goods and motor vehicles increased.

Economists had expected [subscription required] a Q3 2007 account deficit of about $184 billion. The Q3 2007 current account stat represents the smallest account deficit as a percent of the U.S. economy since Q1 2004.

The Q3 2007 account deficit was roughly 5.1% of U.S. GDP using a closing Sept. 2007 GDP of $13.967 trillion. That's down from 5.5% of GDP using a closing June 2007 GDP of $13.769 trillion.

Small victory

In Q3 2007, imports of goods rose to $497.6 billion from $483.6 billion in Q2 2007, but exports of goods rose even more, to $297.9 billion from $279.3 million. Meanwhile, the trade of services rose to a surplus of $26.5 billion from $25.8 billion.

Continue reading U.S. Q3 current account deficit declines -- better, but still not good