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Australia September Trade Deficit A$1.227 Billion

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Australia posted a seasonally adjusted merchandise trade deficit of A$1.227 billion in September, the Australian Bureau of Statistics said on Thursday.

That beat forecasts for a shortfall of A$1.70 billion following the upwardly revised A$1.894 billion deficit in August (originally -A$2.010 billion).

Exports were up 2.0 percent on month to A$27.254 billion after coming in at A$26.828 billion in the previous month.

Goods and services credits added A$426 million (2 percent) to A$27.254 billion. Non-rural goods gained A$578 million (4 percent) and rural goods climbed A$174 million (5 percent).

Non-monetary gold fell A$353 million (19 percent), while net exports of goods under merchanting remained steady at A$47 million. Services credits picked up A$29 million.

Imports dipped 1.0 percent on month at A$28.481 billion after coming in at A$28.722 a month earlier.

Goods and services debits dipped A$241 million (1 percent) to A$28.481 billion. Consumption goods lost A$223 million (3 percent), non-monetary gold slid A$124 million (17 percent) and capital goods gave away A$75 million (1 percent).

Intermediate and other merchandise goods added A$179 million (2 percent). Services debits gained A$3 million.

Also on Thursday, the Australian Industry Group said that the service sector in Australia moved to expansion in October with a Performance of Service Index score of 50.5.

That's up from 48.9 in September, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Among the sub-indexes, employment, sales and new orders expanded.

Among the sub-sectors, health, recreation, wholesale and finance all expanded, while communications, retail, property and business contracted.

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