International Trade in Goods and Services data from the Australian Bureau of Statistics
Trade balance for June comes in at a miss on expectations at an 865m surplus
- expected +AUD1800m, prior was a surplus of AUD 2024m, revised down from +AUD2471m
Imports +2% m/m (sa)
Exports -1% m/m (sa)
That is a big miss, compounded by the revision ot the May surplus (lower). Exports lower on the month is a surprise, although data from ports and shipping has been on the soft side for iron ore (coal exports doing OK though, bouncing back after the cyclone, and LNG exports are setting records).. Imports higher - the economy is gathering pace so perhaps that's not too much of a surprise.
Added - The Australian dollar is not showing too much in response. It had slid a few points earlier in the session;
