"The recovery of the US economy, seen in its healthy new car sales, is contributing to the [current account] surplus"
- Satoshi Osanai, economist at Daiwa Institute of Research
Japan posted a current account surplus in February, said the Ministry of Finance on Monday. The surplus stood at 1.1778 trillion yen and followed a deficit of 437.3 billion yen in January.
"The recovery of the US economy, seen in its healthy new car sales, is contributing to the surplus," said Satoshi Osanai, economist at Daiwa Institute of Research.
"Figures in January and February tend to swing for seasonal factors, such as the Chinese New Year (holiday). But a recovery from the Thai floods also helped Japan's current account to swing back to a surplus."
Japanese stocks retreated for a fifth straight day on Monday.
The Nikkei 225 declined 1.47%, or 142.19 points, to 9,546.26, while the broader Topix retreated 1.46%, or 12.02, to 813.69.
© Dukascopy Bank