Australia’s trade deficit shrank by much more than expected in February to its smallest in 14 months thanks to higher prices for resource exports, a likely boost to profits and incomes that also gave the local dollar a lift.
Wednesday’s figures from the Australian Bureau of Statistics showed the deficit on goods and services narrowed sharply to A$178 million (HK$1.44 billion) in February, from A$1.2 billion (HK$9.73 billion) the month before. That was well under forecasts of a A$1.0 billion shortfall (HK$8.11 billion) and helped nudge the Australian dollar higher.
via Business feed http://www.scmp.com/business/economy/article/1206063/australia-trade-deficit-shrinks-14mth-low
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