Account deficit up
THE quarterly current account deficit has widened by $ 809 million but is not expected to alter economic growth as a rise in export volumes was matched by an increase in imports, economists said. The current account deficit widened in the December quarter to $ 7.299 billion, the Australian Bureau of Statistics reported yesterday. The median market forecast was for a deficit of $ 7 billion in the December quarter. Commonwealth Bank senior economist John Peters said the widening of the current account deficit was not of any major concern.