Japan current-account surplus plummets

10/8/2013 | Bloomberg

The first decline in overseas income in nine months sent Japan's current-account surplus plunging to ¥161.5 billion in August, far below the ¥520 billion projected by economists. Adding to the decline was a negative trade balance reflecting the higher cost of imports as Japan battles deflation. Looking ahead, "there's a low chance that the current-account balance will turn to a deficit in the coming months," said Hiroaki Muto, a senior economist at Sumitomo Mitsui Asset Management in Tokyo.

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