Australia February trade balance: AUD +4.801bn (vs. expected AUD +3.7bn)

While most focus is on the retail sales data (separate post) trade surpluses continue!

Trade surplus also a big beat, coming in at AUD 4.801bn surplus

• expected AUD3.7bn surplus, prior AUD 4.5bn surplus

(ps. HUGE beat for retail sales data also: Australia Retail Sales for February: 0.8% m/m (expected 0.3%))

OK back to the trade surplus:

• Exports 0.0% change on the month
• Imports -1% m/m (something for the bears to chew on … declining imports is often construed as a negative sing for the economy)