Australia export of goods and services dropped -4% mom to AUD 34.5B in July. Imports rose 7% mom to AUD 29.9B. Trade surplus shrank to AUD 4.6B, down from AUD 8.2B, missed expectation of AUD 5.0B.
AiG Performance of Construction index dropped -4.8 pts to 37.9 in August. Ai Group Head of Policy, Peter Burn, said: “The sharp fall in activity in Victoria was a major factor in the downturn while border restrictions in other states have hampered builders and constructors who are reliant on interstate supplies and the availability of tradies from across borders.”
