The QIV Current Account Deficit (CAD) shrank to $10.1bn, which was in line with market expectations of a $10.0bn deficit{CBA’s forecast was for a $9.6bn CAD}. The current account deficit now hovers at around 2.6% of GDP, way below peaklevels of around 6½% of GDP in 2004/5. Net exports will now add 0.6ppts to QIV GDP (due Wednesday 5th March).
Read the full report: Economic Research
Commonwealth Bank