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Australia Has A$5.085 Billion Trade Surplus
(RTTNews) - Australia posted a seasonally adjusted merchandise trade surplus of A$5.085 billion in December, the Australian Bureau of Statistics said on Thursday.
That was shy of expectations for A$6.560 billion and was down from the downwardly revised A$6.792 billion in November (originally A$7.079 billion)
Exports were up 1.1 percent on month to A$44.027 billion, driven by metal ores and minerals; exports rose 4.8 percent in the previous month.
Imports jumped 5.9 percent on month to A$38.942 billion, driven by capital goods; imports were up 1.7 percent a month earlier.
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Australia GDP Growth Tops Expectations
Australia's economy logged a faster-than-expected growth in the fourth quarter underpinned by exports and government spending, data from the Australian Bureau of Statistics revealed on Wednesday. Gross domestic product climbed 0.6 percent sequentially in the December quarter, following a 0.3 percent rise in the September quarter. GDP was expected to grow 0.5 percent in the fourth quarter.
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RBA Cautious About Further Easing, Minutes Show
The Reserve Bank of Australia is cautious about lowering the benchmark interest rate further and the decision to cut the rate in February does not mean that the bank is committed to cut again at coming meetings. At the February meeting, the bank had reduced the interest rate for the first time since 2020. The rate was lowered by 25 basis points to 4.10 percent.
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Australia Private Sector Credit Rises 0.5% In January
Total credit in Australia was up 0.5 percent on month and 6.5 percent on year in January, the Reserve Bank of Australia said on Friday.
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Australia Capex Slips 0.2% In Q4
The total value of new capital expenditure in Australia was down a seasonally adjusted 0.2 percent on quarter in the fourth quarter of 2024, the Australian Bureau of Statistics said on Thursday - coming in at A$43.961 billion.
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Australia Inflation Steady At 2.5%
Australia's consumer price inflation unexpectedly remained unchanged in January supporting the case for further monetary policy easing. The consumer price index registered a steady growth of 2.5 percent in January, data from the Australian Bureau of Statistics showed on Wednesday. Prices were expected to climb 2.6 percent.
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Australia Construction Work Climbs 0.5% In Q4
The value of total construction work done in Australia was up a seasonally adjusted 0.5 percent on quarter in the fourth quarter of 2024, the Australian Bureau of Statistics said on Wednesday - coming in at A$73.936 billion.
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Australia Jobless Rate Ticks Up To 4.1% In January
The unemployment rate in Australia came in at a seasonally adjusted 4.1 percent in January, the Australian Bureau of Statistics said on Thursday - in line with expectations and up from 4.0 percent in December.
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Australia Wage Price Index Adds 0.7% In Q4
Australia's wage price index was up 0.7 percent on quarter in the fourth quarter of 2024, the Australian Bureau of Statistics said on Wednesday.
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