Eco Analysis - Australia: Big trade deficit, but also better exports (K Baader)

Eco Analysis - Australia: Big trade deficit, but also better exports (K Baader)

Australia's October trade figures added another piece of evidence that intra-Asian trade - and arguably global trade - is picking up. Export values rose for the first time in five months, albeit by a mere 0.4% mom, but that is a respectable performance considering that, according to the RBA measure, commodity prices were down 2.2% in October. The rise owed much to a jump in exports to China, which surged 20% mom (but caution, not seasonally adjusted), lifting the annual rate to -11% from -25%. This supports the notion that de-stocking in China has come to an end. Meanwhile, imports into Australia surged, led by capital goods, indicating that strong investment activity extended into Q4.

Bloomberg: Australia Economy Grows More Than Forecast

Bloomberg: Australia Economy Grows More Than Forecast
By Michael Heath - 2011.12.06 07:02 PM

Australia’s economy grew faster than estimated last quarter on consumer spending and mining-driven investment, spurring the local currency as investors pared bets on the pace of interest-rate cuts next year.