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The U.S. current account deficit widened by $17.2 billion, or 10.6 percent, to $178.5 billion in the third quarter of 2020, according to statistics released by the U.S. Bureau of Economic Analysis. The revised second quarter deficit was $161.4 billion. The third quarter deficit was 3.4 percent of current dollar gross domestic product, up from 3.3 percent in the second quarter.
The U.S. current account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, widened by $17.2 billion, or 10.6 percent, to $178.5 billion in the third quarter of 2020. The widening reflected an expanded deficit on goods that was partly offset by an expanded surplus on primary income. The third quarter deficit was 3.4 percent of current dollar…
State personal income decreased 10.0 percent at an annual rate in the third quarter of 2020, after increasing 35.8 percent in the second quarter. Personal income decreased in every state and the District of Columbia, ranging from –29.9 percent in West Virginia to –0.6 percent in Georgia.
The percent change in real metropolitan area personal income ranged from 7.6 percent in Hanford-Corcoran, CA, to –3.2 percent in Panama City, FL, and Wheeling, WV-OH.
The percent change in real state personal income ranged from 4.1 percent in Maine to 0.7 percent in Hawaii, Wyoming, and Rhode Island.
The estimates of gross domestic product for American Samoa show that real GDP—GDP adjusted to remove price changes—decreased 1.4 percent in 2019.
