from Bat Jordan }
Preliminary figures issued by the U.S. Commerce Department on August 13 show a sharp deterioration in the balance of payments position in the second quarter of this year. The deficit was rumning at an annual rate of nearly 3,000m dollars (£,071m.) compared with a revised figure of about 800m dollars for the first quarter. The increase in the deficit was not unexpected - there had been a very bie inflow of funds during March, which was largely reversed in April. Whilst ton much cannot be read into the results for one quarter, the figures do not awezur well for the steps taken by the Administration to improve the position and if repeated will lead to further action being contemplated. Ed. notes cf, next item,