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The ABS has Novembers trade figures out this morning and its not pretty again if we’re trying to rely on an export recovery post mining boom. Via Patrick McGee at FT:
Not exactly a stellar run, with 20 monthly deficits on the trot, although it came bang on expectations at just under $3 billion, with the prior result slightly revised.
Good news though! Service exports were up 1% month on month, but imports are down the same due to the lower Australian dollar.
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Which by the way dropped only briefly on the result, still hovering at 70.6 cents against the USD as we await the China open and Yuan fix:
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