Mitt Romney raises $14m for 2012 campaign

The former governor of Massachusetts has performed well in Republican debates

Presidential hopeful Mitt Romney has raised $14.2m (£9m) for his campaign in the third quarter, close to the $17.2m raised by Texas Governor Rick Perry.

Both have around $15m cash in hand, but their fundraising totals for the third quarter were dwarfed by President Barack Obama's $70m in the same period.

Campaigns for Republican rivals Jon Huntsman and Newt Gingrich appear to be in financial trouble.

The latest numbers do not include money raised by interest groups.

Mr Romney and Mr Perry now have the largest war chests among those Republicans seeking resources in the months leading up to the first salvos in the primary campaign, in New Hampshire and Iowa.

The funds are needed to pay for staff, travel and advertising costs as the campaign drags on.

Candidates challenged

By contrast Mr Huntsman, the former governor of Utah, reported just donations of just $2.2m, and loaned himself a similar amount. He has only $300,000 cash in the bank.

He recently closed his campaign office in Florida, and refocused his efforts in New Hampshire.

On Friday it emerged that he would boycott an upcoming debate in Nevada, another early primary state, and continue to campaign in New Hampshire.

The campaign of Newt Gingrich, the former Speaker of the House, is $1m in debt, with only $807,962 raised during the quarter.

Michele Bachmann's campaign raised $3.9m, slightly higher than businessman Herman Cain, who raised $2.8m during the last three months.

Mr Cain's currently enjoying a higher public profile improved polling numbers put him close to the head of the Republican field.