December month figures are here
AUD (and kiwi) response has been swift, both dropping hard against the yen:
The fall in exports is large, but we had been pointing to 'front loading' occurring in prior months and that cannot go on forever … and it hasn't.
But what about the ugly imports results? Imports are often taken as a sign of helath (or otherwise) of the domestic economy, so the terrible results here are further evidence of what has been slowing domestic demand.
Anyway, as to the title of the post, suggestions welcome!
ps. Earleir on the full-year 2018 trade data:
