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Australia Has A$1.456 Billion Trade Deficit

Nov 05 2012

Australia posted a seasonally adjusted merchandise trade deficit of A$1.456 billion in September, the Australian Bureau of Statistics said on Monday - a fall of 22.0 percent or A$420 million in the deficit from the previous month.

The headline figure beat forecasts for a shortfall of A$1.550 billion following the upwardly revised deficit of A$1.876 billion in August.

Exports were down 1.0 percent on month or A$158 million to A$24.166 billion. Non-rural goods fell A$331 million (2 percent), while rural goods shed A$74 million (3 percent) and net exports of goods under merchanting lost A$2 million (13 percent). Non-monetary gold rose A$253 million (20 percent). Services credits dipped A$3 million.

Imports dropped 2.0 percent on month or A$577 million to A$25.623 billion. Capital goods fell A$460 million (8 percent), while consumption goods were down A$323 million (6 percent) and intermediate and other merchandise goods shed A$104 million (1 percent). Non-monetary gold surged A$281 million (70 percent). Services debits climbed A$28 million (1 percent).

Also on Monday: .Retail sales in Australia were up a seasonally adjusted 0.5 percent on month in September, the Australian Bureau of Statistics said, worth A$21.591 billion. That beat estimates for an increase of 0.4 percent following the upwardly revised 0.3 percent increase in August and the 0.8 percent contraction in July.

By category, food retailing was up 0.6 percent, along with household goods retailing (1.2 percent), other retailing (0.8 percent) and cafes, restaurants and takeaway food services (0.5 percent). These rises were partially offset by falls in clothing, footwear and personal accessory retailing (-0.6 percent) and department stores (-0.5 percent).

By region, sales were up 0.5 percent in New South Wales, along with Western Australia (1.2 percent), Queensland (0.5 percent), Victoria (0.3 percent), South Australia (0.8 percent), the Australian Capital Territory (0.7 percent), Tasmania (0.2 percent) and the Northern Territory (0.2 percent).

For the third quarter of 2012, retail sales were down a seasonally adjusted 0.1 percent compared to the previous three months to A$63.797 billion - also beating forecasts for a contraction of 0.2 percent following the downwardly revised decline of 1.2 percent.

.The inflation estimate for October suggested an increase of 0.1 percent on month, TD Securities said, after forecasting a 0.2 percent monthly increase in September. On year, it was unchanged at 2.4 percent.

.Job advertisements in Australia were down 4.6 percent on month in October, ANZ Bank said, after dipping a downwardly revised 3.9 percent in September.

.The AiG Performance of Service Index came in with a score of 42.8 in October, up from 41.9 in September.

The material has been provided by Instaforex Company -
TAGS: Australia  Has  A$1.456  Billion  Trade  Deficit   

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