Australia's trade surplus surged to the highest level in more than a year in July and household spending growth accelerated for the third straight month in July, official data showed on Thursday.
The trade surplus increased unexpectedly to A$7.3 billion in July from A$5.4 billion in June, the Australian Bureau of Statistics said.
This was the biggest surplus since February 2024, when it totaled A$7.7 billion. Economists had forecast the surplus to drop to A$4.8 billion.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.