Australia’s terms-of-trade retraces for second consecutive quarter

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By Leith van Onselen

Within today’s dump of balance of payments data that feeds into tomorrow’s September quarter national accounts release was the important news that Australia’s terms-of-trade has fallen (as expected), down by 0.4% in seasonally adjusted terms over the quarter and by 2.1% in trends terms:

Over the year, the terms-of-trade rose by 9.7% in seasonally adjusted terms and by 7.3% in trend terms.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.