Wednesday, 6 May 2009

A timely end to drought

It is farmers to the rescue of Australia's trade performance with, in seasonally adjusted terms, exports of rural goods rising $257m (10%) to $2,844m in March. The total balance on goods and services for the month was $2498 million, up by $746m on a revised surplus in February 2009. 
The improved trade balance performance for the month was largely the result of a fall in imports.
Along with the stronger reported retail trade figures it suggests that the March quarter gross domestic product figure might not be as bad as generally predicted.

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