June quarter exports drop, likely to reduce June GDP growth

June quarter figures for Australia’s export and imports show a fall in the value and quantity of exports, in excess of the numbers expected by economists. Analysts had been expecting a current account deficit of around $16bn so the $19bn deficit was something of an unwelcome surprise. A deterioration from March’s revised figure of $13.5bn was expected but a fall of $2.3bn in the goods and services trade surplus and...

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