Aided by COVID-19, U.S. current account deficit rose 35% in 2020
(Worthy News) – The U.S. current account deficit grew by 4.2% in the final quarter of 2020, aided by the COVID-19 pandemic, the Commerce Department said Tuesday.
“The full economic effects of the COVID-19 pandemic cannot be quantified in the statistics because the impacts are generally embedded in source data and cannot be separately identified.”
For all of 2020, the U.S. current account deficit increased 35% to $647 billion and accounted for 3.1% of current-dollar gross domestic product. [ Source: UPI (Read More…) ]
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