Australia Aug trade deficit 0.208 bln aud vs deficit 0.320 bln in July

Australia posted a seasonally adjusted trade deficit for goods and services of 0.208 bln aud in August, narrowing from a 0.320 bln aud deficit in July, the Australian Bureau of Statistics (ABS) said. The result was below the market consensus of a 0.6 bln aud deficit, while the July outcome was revised down from the previous estimate of 0.588 bln aud. The ABS said goods and services credits for August rose 244 mln aud from July to 18.037 bln aud. Non-rural and other goods increased 182 mln aud from a month earlier, while rural goods rose 47 mln and services credits gained 15 mln aud. The ABS said goods and services debits rose 132 mln aud to 18.245 bln aud. It said capital goods increased 184 mln aud, consumption goods climbed 18 mln aud while intermediate and other goods decreased 84 mln aud. Service debits increased 14 mln. In original terms, the August balance on goods and services was a deficit of 0.733 bln aud, a turnaround of 892 mln aud on the revised surplus in July. Goods and services credits rose in original terms by just 27 mln aud and goods and services debits jumped 919 mln aud or five pct. The ABS released the following table (figures in bln aud unless stated): August July June Adjusted Goods/services -0.208 -0.320 -0.361 Total credits 18.037 17.793 18.381 Total debits 18.245 18.113 18.742 Trend Goods/services -0.469 -0.576 -0.771 Total credits 18.031 17.930 17.720 Total debits 18.500 18.506 18.491