Australia recorded a trade deficit in January, its first in 11 months, on weaker exports of gold, iron ore and coal. The local currency declined. Imports outpaced exports by A$673 million ($715 million), from a revised A$1.33 billion surplus in December, the Bureau of Statistics said in a report in Sydney today. The median estimate in a Bloomberg News survey of 24 economists was for a surplus of A$1.5 billion. The data add to pressure on central bank Governor Glenn Stevens to end a two-month pause in interest-rate cuts after the economy slowed last quarter and payrolls fell in February. The currency has strengthened ... (full story)