Australia reported that its trade surplus narrowed to AUD 1.38 billion in November. The data showed that investment spending was increasing while at the same time consumer spending was decreasing. Economists noted that consumer spending dropped in the holiday season and is a trend likely to continue. Capital investments related to Australian’s booming resources sector is leading the way in imports. The trade balance for October was revised downward to a surplus of AUD 1.41 billion. Read more