Please find below Today's Current Account Deficit details. I think the Pre-tax profit growth is promising.
1 December 2003
Result Market Expected
Current Account Deficit $11.9b $12.0b
Net Exports Contribution -0.5 p.p. +0.1 p.p.
Net Foreign Debt $360.7b n.a
Stocks (p.p.c. contr. to GDP growth) +0.3 p.p. -0.3 p.p.
Stocks (% change) +2.3% +0.6%
Company profits +7.6% +4%
Market Implications: Probably won¡¯t be significant. There were some surprises, but they roughly net out. In any case, markets are being driven from elsewhere right now.
I have also posted a Global strategy PDF on yahoo. If you want to read :
www.yahoo.com
Userid : hdr031114
Passwd: hotcopper
Cheers
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