Aussie Q2 Current Account: Net exports add 0.3 percentage points to GDP

The Australian Bureau of Statistics data released today showed a current account deficit of AUD 9.562 billion in the second quarter of 2017. 

The actual figure was wider than the forecast of AUD 7.5 billion.  The previous quarter deficit was revised lower from AUD 3.1 billion from AUD 4.754 billion. 

The headline may look disappointing, however, the next exports as a percentage of GDP came in at 0.3, topping expectations for a flat reading following the 0.7 decline in the three months prior.  The net exports are seen adding 0.3 percentage points to the second quarter GDP due for release tomorrow at 01:30 GMT.