Australia posted a merchandise trade deficit of A$2.317 billion in September, the Australian Bureau of Statistics said on Wednesday.
That beat forecasts for a shortfall of A$2.900 billion following the A$2.711 billion deficit in August. It was also a decrease of A$394 million (15 percent) on the deficit in August 2015.
Exports were up A$901 million or 3.0 percent on month to A$27.428 billion.
Non-rural goods gained A$681 million (4 percent), while non-monetary gold spiked A$135 million (10 percent), rural goods rose A$43 million (1 percent) and net exports of goods under merchanting added A$1 million (3 percent). Services credits advanced A$42 million (1 percent).
Imports added A$507 million or 2.0 percent to A$29.475 billion.
Consumption goods climbed A$264 million (3 percent), while non-monetary gold gained A$161 million (47 percent) and capital goods collected A$115 million (2 percent).
Intermediate and other merchandise goods fell A$138 million (1 percent) and services debits were up A$106 million (2 percent).
Also on Wednesday:
. The ABS said that the total value of retail sales in Australia was up a seasonally adjusted 0.4 percent on month in September, coming in at A$24.500 billion.
That was in line with expectations and unchanged from the previous month.
For the third quarter, retail sales gained 0.6 percent on quarter to A$71.674 billion. That missed expectations for 0.7 percent and was down from 0.8 percent in the three months prior.
. The Australian Industry Group said that the services sector in Australia slipped into contraction territory in October, with a services PMI score of 48.9.
That’s down sharply from 52.3 in September, and it moves beneath the boom-or-bust line of 50 that separates expansion from contraction.
Among the individual components of the survey, sales and supplier deliveries expanded in October – while employment, new orders and stock levels contracted.
The three-month average remains expansionary however, coming in at 52.3.
The material has been provided by InstaForex Company – www.instaforex.com