TOKYO, Jan 12 Reuters Japan posted a second consecutive month of record current account surpluses in November, as the trade deficit narrowed while its service balance turned surplus due to increased inbound tourism after pandemic controls were lifted last year.

The current account data may offer relief to policymakers concerned about the spectre of dwindling balance of payments, which would weaken purchasing power.

However, some economists argue against overstating the importance of the current account balance, saying it simply reflects a country39;s economic activity during a given period.

The U.S. economy is doing well despite its twin deficits, said Takeshi Minami, chief economist at Norinchukin Research Institute.

Japan39;s current account data clearly indicates its economic entities are not making much use of gains from overseas investments for boosting domestic investment, he said.

For November, the current account surplus stood at 1.93 trillion yen 13.31 billion, Ministry of Finance data showed on Friday. That was a record for the month of November.

The trade deficit narrowed as a yearonyear decline in imports outpaced falling exports, it showed.

That compared with economists39; median forecast for a current account surplus of 2.39 trillion yen in a Reuters poll, after a surplus of 2.58 trillion yen in October a record for that month.

In the past, yen strength as strong as 75 yen to the dollar in 2011 in the wake of U.S. quantitative monetary easing…