Current account improves as one-trick pony rides again!

Tuesday 6 September 2016

As dirt does so goes Straya! The ABS has release its international investment position numbers for the June QTR and the news is good as the one-trick dirt pony rides again. The quarterly current account deficit shrank materially to $15.5bn as iron ore revenues improved:

And $72.6bn over the year:

That drove the quarterly deficit down to -3.7% of GDP:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.