Sydney - Tuesday - March 1: (RWE Aust Business News) - The current account deficit, seasonally adjusted, rose $809m or 12 per cent to $7,299m in the December quarter, the Australian Bureau of Statistics said. The surplus on the balance of goods and services rose $726m (12pc) to $6,756m. The primary income deficit rose $1,545m (13pc) to $13,713m. In seasonally adjusted chain volume terms, the deficit on goods and services rose $24m (5pc) from $448m in the September quarter to $472m in the December quarter. This is expected to make no contribution to growth in the December quarter 2010 volume measure of GDP. Australia's net IIP declined $5.7bn to a net liability position of $782.1bn in the December quarter. Australia's net foreign debt liability decreased $26.7bn to a liability position of $650.3bn. Australia's net foreign equity liability increased $21.0bn to a liability position of $131.8bn.
