Como se combate o populismo? "Com eleições", responde Fukuyama

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8:30 AM ET 6/16/06 U.S. Q1 U.S. PURCHASS OF FOREIGN ASSETS $333.9 BLN
8:30 AM ET 6/16/06 U.S. Q1 FOREIGN PURCHASES OF U.S. ASSETS $491.6 BLN
8:30 AM ET 6/16/06 U.S. Q1 CURRENT ACCOUNT LESS THAN $221.1 BILLION FORECAST
8:30 AM ET 6/16/06 U.S. Q1 CURRENT ACCOUNT DEFICIT 6.4% OF GDP VS. 7.0%
8:30 AM ET 6/16/06 U.S. Q1 CURRENT ACCOUNT DEFICIT $208.7 BLN VS. $223.1 BLN

ECONOMIC REPORT: Current account deficit narrows to $208.7 billion
By Rex Nutting, MarketWatch
Last Update: 8:30 AM ET Jun 16, 2006

WASHINGTON (MarketWatch) - The U.S. balance of payments deficit narrowed slightly in the first quarter to $208.7 billion from $223.1 billion in the fourth quarter, the Commerce Department reported Friday.

The current account deficit totaled 6.4% of gross domestic product, down from 7% in the fourth quarter.

The decrease was largely due to a decrease in transfer payments and net imports of goods.

Economists had expected the current account to shrink to about $221 billion, according to a survey conducted by MarketWatch.

The current account is the broadest measure of international flows of goods, services and capital in and out of the United States. In essence, the current account measures how much Americans need to borrow from abroad to fund their consumption and investment.

Capital outflows rose faster than capital inflows in the quarter. Capital inflows totaled $157.6 billion after $242.7 billion in the fourth quarter.
U.S.-owned assets abroad increased $333.9 billion after a gain of $10.7 billion. Foreign-owned assets in the United States increased $491.6 billion in the first quarter from $253.4 billion in the fourth quarter.

Foreigners sold $1.9 billion of Treasurys after purchasing $62 billion in the fourth quarter. Foreign purchases of other U.S. securities, largely equities and agency bonds, rose to a record $183 billion form $131.9 billion.

Direct investment abroad shifted to outflows of $61.8 billion from an inflow of $25.8 billion, largely as the result of an expiration of a tax break that had encouraged U.S. companies to repatriate foreign earnings back into the United States.

The trade deficit, previously reported, fell to $190.7 billion in the first quarter from $194.8 billion.

Unilateral transfers fell to an outflow of $19.9 billion from $26.2 billion.

U.S. net income shifted to a surplus of $1.9 billion from a deficit of $2.2 billion. U.S. investment income on assets owned abroad increased to $140.1 billion from $130.4 billion. Foreign investment income on investments owned in the United States increased to $136.6 billion from $131 billion.

The capital account increased to net outflows of $1.8 billion in the first quarter from $500 million in the first quarter.