Australia’s Current-Account Deficit Narrowed in Second Quarter
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Australia’s current-account deficit narrowed more than economists forecast in the three months through June as stronger shipments of metal ores and other minerals outpaced a decline in coal exports.
The shortfall on goods, services and investment was A$11.8 billion ($12.1 billion) from a revised A$13 billion in the first quarter, the Bureau of Statistics said in Sydney today. The median estimate in a Bloomberg News survey of 21 economists was for a A$12.2 billion gap. Net exports added 0.3 percentage points to gross domestic product growth in the second quarter, the bureau said today.