Current Account Deficit Widens in 1st Quarter

The U.S. current account deficit widened to a record $144.9 billion in the first quarter as companies imported more to meet the demands of a stronger economy, a government report showed.

The deficit, the broadest measure of trade because it includes investments, follows a $127-billion gap in the previous three months, the Commerce Department said. The gap is equivalent to 5.1% of the nation’s $11.5-trillion economy, up from 4.6% in the fourth quarter.