Trade surplus down to $7.3b caps week's economic data deluge

Australia's trade surplus dips to $7.29 billion in July, falling back from a revised $7.98 billion record high in June. 

The softer than expected result adds to evidence that exports are propping up Australia's economic growth. 

Read the ABS statistics 

Myer chief executive John King says he doesn't see a recession on the horizon after concerns that the cautious consumer cut a slice from June quarter GDP.