Apr Curr Acct Surplus Y750bn
Japan’s current account balance produced a surplus for the third straight month in April, the Ministry of Finance said Monday, as the weaker yen helped boost the value of income from overseas investments, more than offsetting for the nation’s massive trade deficits.
The surplus in the current account, the broadest measure of Japan’s trade with the rest of the world, stood at Y750.0 billion in April before seasonal adjustment, the data showed. That’s wider than expected by economists surveyed by Dow Jones Newswires and the Nikkei, who estimated a surplus of Y310 billion.
The figure compares with a year-ago surplus of Y373.5 billion, and the previous month’s surplus of Y1.251 trillion.
Jan-Mar Revised Annualized GDP +4.1%; Prelim +3.5%
Japan’s gross domestic product expanded at a faster pace than initially estimated during the January-March quarter, offering a fresh indication that Prime Minister Shinzo Abe’s economic policies have started to take effect. (more…)