China set to rescue Aussie economy at just the right time
Rebound in Chinese demand for commodities pushing coal, iron ore prices higher and boosting Australian exports
Sydney
THE news out of Australia isn't all gloom.
While growth figures stank last quarter, the nation is again being cushioned by its status as the developed world's most China-dependent economy. Surging coal and iron ore prices have helped ease an erosion of national income Down Under and, together with a slower slide in mining investment, signal better prospects ahead.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons