Current Account slows in Australia

Australian economy notices a slowing Current account balance during the second quarter of the year, adding to signs that central bank may add more supportive measures to ensure economic growth.

Moreover, Current account balance in Australia recorded deficit of AU$13.7 billion, from a previous deficit of AU$5.7 billion, while analysts’ estimates were AU$14.0 billion.

Net Exports of GDP fell more than estimated during the second quarter of the year to -0.90%, from a previous reading of 1.40%, while analysts’ estimates were -0.70%

The Reserve Bank of Australia is expected to add stimulus packs during the upcoming period amid the current weaker economic indicators and instable performance.