ONLY CHARTS #441
Aus trade, Aus public-sector jobs, Aus new car sales, Composite PMIs, US ISM services prices
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1. Australia’s goods trade surplus widened by $2.8b in September to $3.94b. Nominal exports rose nearly +8% m/m and imports grew just +1.1% m/m.
2. Sharply higher exports of non-monetary gold (+62% m/m) - reversing part of the decline in August - accounted for 63% of the increase in nominal exports in September. The gold price rose ~7% m/m in A$ terms in September.
The remainder of the (net) rise in Australia’s exports was accounted for by growth in iron ore exports (largely higher volumes).
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