Australia’s February trade surplus topped market expectations with the major export sectors showing small gains.
Figures from the Australian Bureau of Statistics yesterday showed a seasonally adjusted trade surplus of $825 million last month, up on the market guess of $700 miliion, but down on the $925 million for January.
The January figure was down sharply for the first estimate of $1.055 billion.
February was also the second-straight month of surpluses following a surprise rebound in January after a deficit of a revised $1.45 billion in December (originally $1.358 billion).
Exports ($34.299 billion) and imports ($33.405 billion) were both marginally higher from January.
The surplus follows a 0.6% rise in retail sales in February and a 6.2% fall in building approvals, driving by a sharp fall in apartments, townhouses etcd. Approvals for new private home construction was up 1.9%.
