NEW ZEALAND
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From Times Staff and Wire Reports
Account Surplus Narrows: The surplus fell to $74 million in the quarter ended June 30 from a revised $307.6 million in the previous period, Statistics New Zealand said. Economists said the worse than expected figure signals that the nation’s economic recovery is stronger than anticipated and is spurring a higher level of imports. Exports in the June quarter rose $372 million, while imports grew $154 million, creating a merchandise trade surplus of $788 million.
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