Australia Posts Trade Deficit In January

According to the Australian Bureau of Statistics, Australia swung to a seasonally-adjusted trade deficit of 673 million Australian dollars ($717.2 million) in January. Economists were estimating a surplus of A$1.5 billion. In December, Australia posted a trade surplus of A$1.15 billion. The country's exports declined 8% to A$25.4 billion in January, while imports fell 1% to A$26.0 billion.