U.S. current account deficit widens 1.5% in the first quarter

WASHINGTON (MarketWatch)  The U.S. current-account deficit, a measure of the nation’s debt to other countries, rose 1.5% in the first three months of the year. The current-account deficit increased to $219.3 billion in the first quarter from a revised $216.2 billion in the 2022 fourth quarter. The current account reveals if a country is a net lender or borrower. The current account deficit was equal to 3.3% of GDP in the fourth quarter, little changed from the prior quarter. The current-account deficit as a share of GDP peaked in 2005 at 6.3%.