Imports dropped 1.6 percent from a year earlier, the administration said. That compared with a median estimate for a 6 percent increase from analysts surveyed by Bloomberg News, with forecasts ranging from a gain of 0.3 percent to 13 percent.Weak imports for a weak economy, but growth outside of China may be picking up. Exports to Europe and South Korea increased more than 6 percent yoy in May.
The trade surplus was $35.92 billion, the customs administration said. That compared with the median estimate for a $22.6 billion excess. The surplus was $18.45 billion in April and $20.53 billion a year earlier, according to previously released customs data.
Australia’s inflation dragon has been slain
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In the latest Treasury of Common Sense with Radio 2GB’s Clinton Maynard, I
discussed the band-aid federal budget, why net overseas migration numbers
will...
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