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(CEP News) - As expected, Japan's current account for January fell into its first deficit since 1996, but the loss was more than economists had been expecting.
According to the Ministry of Finance on Monday (Sunday night EDT), the current account fell to a deficit of ¥172.8 billion versus an expected ¥15.3 billion shortfall and December's ¥125.4 billion surplus. The adjusted current account total was also lower than expected, coming in at a surplus of ¥458.0 billion compared to expectations for a ¥420.0 billion surplus. In December, the surplus stood at ¥557.0 billion. Japan's trade balance on a balance of payments basis, released simultaneously, showed an ¥844.4 billion deficit in January despite forecasts for an ¥811.6 billion deficit, following December's ¥197.9 billion shortfall. By Erik Kevin Franco,
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, edited by Stephen Huebl,
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