Australia trade balance for March is a huge beat at +10,602m
- expected surplus of AUD 6bn, prior surplus 4.361bn
- exports come in at +15% m/m vs. prior -4.7% m/m
- imports are -4% m/m vs prior -4.3%
Surge in exports, marked slowing in imports.
Once again exports a bright point for the Australian economy. This result will be a nice positive input to the Q1 GDP data which earlier I posted is likely to be negative …. gotta question that now!
