WASHINGTON (AFX) - The current account deficit widened to a record 115.3 bln usd in the fourth quarter from a revised 113.1 bln in the third quarter, the Commerce Department said.
The fourth quarter deficit is the widest since the government began tracking the data after World War II.
The widening of the deficit was slightly more than expected. The consensus forecast of Wall Street economists was for the current account deficit to widen to 117.8 bln usd.
For the year end 2000, the current account deficit widened to a record 435.4 bln usd compared with the previous year's record of 331.5 bln usd.
Most of the widening of the annual trade deficit came from the deficit in goods and services.
The current account deficit in the third quarter was revised to 113.1 bln usd, down from an original estimate of 113.8 bln usd. Increases in the goods and services deficit and in net outflows for unilateral current transfers more than accounted for the fourth quarter widening, the department said.
The deficit on goods widened to a record 118.3 bln usd in the fourth quarter, up from 114.7 bln in the previous quarter. In the goods and services category, the deficit increased to 98.9 bln usd from 95.6 in the third quarter.
The deficit on income narrowed to 0.5 bln usd in the fourth quarter from 4.5 bln in the third quarter.
Income receipts on U.S.-owned assets abroad rose to 89.1 bln usd in the fourth quarter from 86.8 bln in the third quarter.
Net unilateral transfers widened to 15.9 bln usd in the fourth quarter from 12.9 bln in the previous quarter.
Foreign private purchases of U.S. securities other than Treasury securities were 123.9 bln usd, up slightly from 122.4 bln usd in the third quarter.
Foreign purchases of stocks were 36.5 bln usd, down from 47.8 bln usd in the third quarter. Foreign purchases of U.S. corporate and other bonds rose to a record 87.4 bln usd, up from 74.6 bln usd in the third quarter.
Net foreign private sales of U.S. Treasury securities totalled 9.8 bln usd in the fourth quarter, down from 12.5 bln in the third quarter.