Trade deficit data from Australia for October.
Huge miss, coming in at a deficit of 1541mln
- expected deficit 610mln
Imports +2% m/m
Exports +1% m/m
If you were following along with the responses to the Australian GDP (Q3) yesterday you'll know that many of the analysts expect Q4 GDP to bounce back quite strongly, one of the reasons is a rebound in exports, at higher prices (rallying commodity prices). Well ... October is the first month of Q4 and here we are with a big miss on trade balance. Not a good start.
