Japan Current Account Surplus Surges

Japan’s surplus in its current account, the broadest measure of trade in goods and services, rose sharply in January, marking the first increase in 17 months, the Finance Ministry said. The surplus totaled $1.24 billion in January, compared with a surplus of $260 million a year earlier, exceeding economists’ expectations. But the surplus in merchandise trade alone, a narrower measure of trade, fell to $1.89 billion from $2.24 billion a year earlier. The surge in the surplus confounded analysts’ forecasts, which had ranged from a big deficit in the current account to a modest surplus increase.