US current account trade deficit grew to $137.3 billion in first quarter, largest since 2008

http://www.washingtonpost.com/business/us-current-account-trade-deficit-grew-to-1373-billion-in-first-quarter-largest-since-2008/2012/06/14/gJQArwQEcV_story.html

By Associated Press, Published: June 14

WASHINGTON — The U.S. current account trade deficit grew this winter to its widest imbalance in three years. A big increase in imports of oil, cars and machinery and a drop in U.S. earnings on overseas investments drove the increase.

The deficit in the current account jumped 15.7 percent to $137.3 billion in the January-March quarter. That’s up from $118.7 billion in the final three months of last year, the Commerce Department reported Thursday.