current account deficit up 12pc

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    Frightening figures:

    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.

    Reuters.
 
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