Japan Current Account Surplus Drops to ¥1.35T in June

Japan posted a ¥1.348 trillion ($8.6 billion) current-account surplus in June, well below the ¥1.806 trillion consensus forecast and less than half the ¥3.436 trillion recorded a month earlier, according to preliminary balance-of-payments data released Friday. On a balance-of-payments basis, the trade account swung to a ¥469.6 billion surplus from a ¥522.3 billion deficit in May, exceeding the ¥402.1 billion market projection. The seasonally adjusted current-account surplus came in at ¥2.398 trillion, also undershooting expectations for ¥2.751 trillion.