The measure of the United States' debt to other countries was on the march in the first quarter of this year.
Figures released Tuesday by the Bureau of Economic Analysis showed that the current account rose 2.5% to $116.8 billion in the first quarter.
The office also says the increase in the current-account deficit in the fourth quarter was tied to a higher trade deficit in goods such as foreign autos or cellphones and a smaller surplus in primary income, as well as returns on American-owned assets held abroad.
The fourth-quarter gap in the current account was raised to $114 billion from an original reading of $112.4 billion.
The current account reveals if a country is a net lender or debtor. The current-account deficit was 2.5% of GDP in the first quarter, up slightly from 2.4% at the end of 2016, a gap well below a peak of 6.3% in 2005.
The current account is closely followed by economists, but it rarely gets much attention outside that profession.
