2019.03.0620:34:00UTC+00Australia January Trade Surplus A$4.549 Billion

Australia posted a seasonally adjusted merchandise trade surplus of A$4.549 billion in January, the Australian Bureau of Statistics said on Thursday.

That exceeded expectations for a surplus of A$2.90 billion and was up A$780 million from the upwardly revised A$3.769 billion surplus in December (originally A$3.681 billion).

Exports were up 5.0 percent on month or A$1.901 billion to A$39.937 billion in January from A$38.036 billion in the previous month.

Non-monetary gold rose A$1.373 billion, while non-rural goods rose A$396 million (2 percent) and rural goods rose A$97 million (2 percent).

Net exports of goods under merchanting fell A$12 million (33 percent) and services credits rose A$46 million (1 percent).

Imports picked up 3.0 percent or A$1.121 billion to A$35.388 billion from A$34.267 billion a month earlier.

Capital goods rose A$737 million (12 percent), while consumption goods rose A$483 million (6 percent) and intermediate and other merchandise goods rose A$157 million (1 percent).

Non-monetary gold fell $65 million (13 percent) and services debits fell A$191 million (2 percent).

Also on Thursday:

. The ABS said that the total value of retail sales in Australia was up a seasonally adjusted 0.1 percent on month in January, coming in at A$27.018 billion. That was shy of expectations for a gain of 0.3 percent following the 0.4 percent decline in December.

Individually, there were gains in food retailing (0.3 percent), cafes, restaurants and takeaway food services (0.2 percent), and clothing, footwear and personal accessories retailing (0.1 percent).

Other retailing (0.0 percent) was relatively unchanged, while household goods retailing (-0.2 percent), and department stores (-0.4 percent) fell in January.

. The construction sector in Australia continued to contract in February, albeit at a slower pace, the latest survey from the Australian Industry Group revealed on Thursday with a Performance of Construction Index score of 43.8.

That's up from 43.1 in January, although it remains well beneath the boom-or-bust line of 50 that separates expansion from contraction.

In all, the sector has been in contraction for six straight months.

Individually, activity, employment, new orders, supplier deliveries and selling prices were all firmly in contraction. Input prices and average wages continued to expand, although at a slower rate.