29 November 2001, 09:32  Australia Q3 current a/c deficit 2.865 bln aud vs deficit 3.328 bln in Q2

SYDNEY (AFX) - The seasonally-adjusted current account deficit was 2.865 bln aud in the three months to September, against a revised deficit of 3.328 bln in the second quarter of this year, the Australian Bureau of Statistics said. The second quarter deficit was previously reported as 3.487 bln aud. The median of analysts' forecasts was for the current account deficit to have narrowed to 3.0 bln aud. The range of forecasts was for a deficit of 3.5-2.5 bln. The fall in the September quarter current account deficit was "mainly due to a fall in the income deficit of 299 mln aud and an increase in the surplus of goods, up 158 mln aud," the ABS said. "The surplus on the balance on goods and services, in seasonally adjusted chain volume terms, fell 211 mln, and could be expected to make a contribution to growth of minus 0.1 percentage points in the September quarter 2001 measure of GDP," the ABS said. The income deficit fell 6 pct to 4.904 bln, compared to a revised deficit of 5.203 bln in the June quarter. The March quarter deficit was previously reported as 5.115 bln. The net international investment position was a net liability of 410.919 bln aud from a revised 392.249 bln in the previous quarter.

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