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Australia – what will provide impetus for growth as mining investment peaks?
Our new report ‘Australia – Riding the Boom’ looks at the factors driving Australia’s growth in recent years. Mining investment has been the main reason for Australia’s growth since the global financial crisis in 2008, keeping its economy buoyant while other developed markets have suffered. The boom is largely due to increasing demands from China for iron ore, coking coal, liquefied natural gas and a range of other minerals.
Australia’s strong growth, healthy consumer spending, investment opportunities and relatively high interest rates have encouraged large inflows of capital. However, with mining investment is now peaking, leaving investors wondering if Australia has more than one trick up its sleeve.
Will other sectors like agriculture, building and production lead to the emergence of broader-based growth?