Australia Trade Balance for April 2024 comes in at a surplus of AUD 6.548bn
- expected AUD5.4bn, prior AUD5.02bn
Exports -2.5% m/m
- prior -0.6%
Imports -7.2% m/m
- prior +4.2%
The drop in commodities is a sign of a weakening in the economy, perhaps. Countering this was the decent rise in the month before. Not dropping too hard, a bit of sideways?
Still, the number is 7.2% m/m, not going to be ignored.
Imports chopping sideways
