Australian Current Account Balance and Dwelling Approvals
3 June 2008
The Current Account Deficit rose 4% to $19,492 million, compared with expectations of $20,500 million. The deficit on the balance of goods and services rose $1,459m (22%) to $8,019m. The income deficit fell $677m (6%) to $11,400m.
Australia's net International Investment Position rose $6.2b to a net liability position of $729.5b. Net foreign debt was $616.1b, an increase of $9.0b. Net foreign equity decreased by $2.8b to a liability of $113.4b.
The Dwelling Approvals for April were substantially stronger than expected, coming in 5.2% higher than the same time last year. The consensus was +0.5%.