The U.S. current-account deficit preliminary read rose to $134.4 billion in the fourth quarter (Q4) 2018, up from a revised $126.6 billion for Q3.
According to statistics released by the Bureau of Economic Analysis (BEA), the deficit was 2.6% of current-dollar gross domestic product (GDP) in the fourth quarter, up from 2.5% in the third quarter.
The $7.8 billion increase in the current-account deficit was primarily driven by an increase in the deficits on goods, on secondary income and a decrease in the surplus on services.
Worth noting, the U.S. trade deficit also reported by the BEA on Wednesday narrowed far more than expected in January, indicating a potential reversal from Q4.
Exports of goods and services and income receipts increased $4.1 billion in the fourth quarter to $934.3 billion, while imports of goods and services and income payments increased $11.8 billion in Q4 to $1.1 trillion.
