Photo: :Bron: / Flickr
First Japan goes from net exporter to posting trade deficits. And now… Australia.Here’s the report: In January, the country posted a seasonally adjusted A$673 million deficit vs. expectations of a surplus of A$ 1.5 billion, according to Dow Jones.
The Aussie dollar is instantly falling on the news.
We’d caution that pretty much all January stats are a little bit suspect due to the timing of the Chinese New Year. But still. It’s a surprise, and perhaps worrisome.
This one-year chart does show that a deficit happened last year, although not as deep.