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The huge rise in Australian imports in the trade data another indication of a booming economy

February 3, 2022 by admin 0 Comments

The data is here:

Australia trade balance for December 2021, exports and imports both up m/m

Remarks from ANZ’s analysis:

confirmation the Australian economy is in a boom … Intermediate imports zooming as they were in the pre-GFC period. The policy stimulus unwind is coming soon.
A further strong rise in intermediate goods imports saw the trade surplus fall to AUD8.4bn in December.
However, further large falls in the near-term are unlikely given the recent moves in commodity prices.

Note that comment on policy stimulus unwind …. ‘coming soon’. The RBA left its cash rate unchanged at Tuesday’s (1 February) meeting … dunno how longer they can continue to do this.

This article was originally published by Forexlive.com. Read the original article here.