Australia's Trade Balance Deficit Narrowed Amid Unexpected Retail Sales Advance

Australia's Trade Balance Deficit Narrowed Amid Unexpected Retail Sales Advance

Australian economy showed today a more-than-expected negative signs after the current period of instability, where the nation's trade balance deficit unexpectedly narrowed in September, while the nation's retail sales advanced more-than-expected In September supported by gains in household goods and food purchases.

Australia's Trade balance recorded an actual off AU$-1456 million, compared with a previous reading of AU$-2027 million, revised to AU$-1676 million, while analysts' expectations were AU$-1550 million.

Australia's economy released its seasonally adjusted reading for its retail sales concerning September, where the reading recorded an actual of 0.5% compared with a previous reading of 0.2% a month earlier, while analysts' expectations were 0.4%.

At the same time retail sales excluding inflation recorded an actual of -0.1% during the third quarter of the year, compared with a previous reading of 1.4% during the second quarter that revised to 1.2%, while analysts' expectations were -0.2%.

It's worth to mention, that the current interest-rate cut supported today's reading by boosting national spending, as it considered the fourth rate reduction by 1.25 percentage points from November to June, as the RBA sought to support the nation's economy by encouraging spending.

Also current cut in rates supported exporters as well as their revenues, as higher interest-rate negatively affect on their revenues especially amid the current global instability