Australia's Q3 current account deficit dips to 15.587 billion aud |
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Fri, 30 Nov 2007 01:54
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SYDNEY (Thomson Financial) - Australia's third-quarter current account deficit dropped to a seasonally adjusted 15.587 billionAustralian dollars from 15.620 billion dollars in the second quarter, the Australian Bureau ofStatistics (ABS) said Friday.The market consensus forecast was for a deficit of 16.40 billion dollars. The second-quarter deficit was revised from the previously reported 15.99 billion dollars .The ABS said the deficit on the balance of goods and services rose 522 million dollars, or 14 percent, to 4.387 billion dollars.The income deficit fell 471 million dollars, or 4 percent, to 11.149 billion dollars.In chain volume terms, there was an increase of 184 million dollars, or 2 percent, in the deficit on goods and services.The ABS said this is likely to make no contribution to growth in the September quarter volume measure of gross domestic product.In original terms, the balance on the current account for the quarter was a deficit of 17.470 billion dollars, bigger than the deficit of 13.976 billion dollars in the second quarter.The ABS released the following table for the three months to September balance of payments (figures in billions of Australian dollars unless otherwise stated):Q3 2007 Q2 2007Seasonally adjustedBalance on current account -15.587 -15.620Balance on goods/services - 4.387 -3.865Net income -11.149 -11.620TrendBalance on current account -15.630 -15.558Balance on goods/services - 4.268 -3.927Net income - 11.149 -11.620OriginalBalance on current account -17.470 -13.976bruce.hextall@thomson.combhx/msCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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