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Thursday, November 8, 2012

Japan in first current account deficit since 1981.

Japan swung to its first current account deficit since 1981 in September, with the gap coming in at an adjusted ¥142B ($1.8B). Economists attributed the figure largely to one-off factors such as a surge in iPhone imports, and don't expect deficits in the coming months. Still, for some the shortfall is a sign Japan is nearing the point at which it won't be able to finance its mammoth debt from domestic sources only.

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