Within today’s data dump of balance of payments data that feeds into tomorrow’s March quarter national accounts release was the important news that Australia’s terms-of-trade has surged (as expected), jumping by 6.6% in seasonally adjusted terms over the quarter and by 7.0% in trends terms:
Over the year, the terms-of-trade rose by 24.8% in seasonally adjusted terms and by 24.2% in trend terms.
