Australia's Current-Account Deficit Down In Second Quarter

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Australia's current-account deficit narrowed to 11.8 billion Australian dollars ($12.1 billion) on a seasonally adjusted basis in the second quarter, versus A$13 billion in the prior period, according to the Australian Bureau of Statistics. Australia's exports rose 4% to A$3.1 billion in the quarter, while imports gained 3% to A$2.4 billion. However, economists were projecting a current-account deficit of A$12.3 billion in th quarter.
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