The data coming from the Australian economy is not very encouraging. There is little help from the manufacturing sector and the boom in the mining sector may be over.
Mining is the dominant sector in the country and has been for years. As with most commodity dependent nations the success of the country is wholly dependent on what global demand is for these commodities and for Australia that demand has been impressive for years. The Chinese have been buying as much as Australia can produce and they have consistently demanded more. That demand has not ended but the slowdown in the Chinese economy has meant that they are buying far less than they used to.
Source: Armada Corporate Intelligence – To read the assessment contact: www.armadaci.com
