did anyone see this comming

Figures from the Bureau of Statistics show a seasonally adjusted trade deficit of $717 million.

Economists expected a surplus of about $100 million.
So I guess the last week or so has been just a dead cat bounce?

I found this on the abc news website ...


The senior strategist from TD Securities Joshua Williamson says the figure is disappointing.

"It's a very big change," he said.

"The market was looking for a small surplus of $50 million in the month, so the fact that we arrived at a deficit of over $700 million is a big shock to the market, as was the composition of the data."

Exports fell 1 per cent to $22.9 billion, led by a decline in coal exports which dropped nine per cent.

Imports rose 4 per cent to $23.6 billion.
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