U.S. Q1 current account gap widens to $137.3 bln

WASHINGTON (MarketWatch)
The U.S. current account deficit widened to $137.3 billion in the first quarter, or 3.6% of gross domestic product, from $118.7 billion in the fourth quarter, the Commerce Department reported Thursday
This is the largest deficit since the fourth quarter of 2008
The wider deficit was accounted for by a decrease in the surplus on income and a wider deficit on goods and services
The surplus on income decreased to $47.6 billion in the first quarter from $59.9 billion in the fourth