In the east, Sydney and Melbourne are seeing booming property prices and spiraling household debt; on the western side of the continent, housing and rental costs in Perth are falling as mining companies retrench. The upshot: interest rates aren’t likely to be going anywhere soon.
Category: Western Australia, Australia
Aussies Go Back to Future as Iron-Coal Drives Trade Surplus
Australia recorded its first trade surplus in almost three years as Chinese demand stoked prices for its two biggest exports, iron ore and coal. Australia’s trade performance closely correlates with demand from China’s old growth drivers like infrastructure and apartment construction.