Financial News: Australia Has A$14.149 Billion Current Account Deficit

Australia Has A$14.149 Billion Current Account Deficit

12/02/2024 - 20:09:00 (RTTNews)

(RTTNews) - Australia posted a seasonally adjusted current account deficit of A$14.149 billion in the third quarter of 2024, the Australian Bureau of Statistics said on Tuesday.

That missed forecasts for a shortfall of A$10.3 billion following the downwardly revised A$16.351 billion deficit in the three months prior (originally -A$10.7 billion).

The capital and financial account surplus was A$20.084 billion, an increase of A$2.658 million on the Q2 surplus.

The balance on goods and services in seasonally adjusted chain volume terms is expected to contribute 0.1 percentage points to the September quarter 2024 GDP quarterly movement. That missed expectations for 0.4 percent and was down from 0.2 percent in the previous quarter.

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