From Alan Mitchell who needs to brush up on his national accounts:
Welcome to the Mining boom stage three. Export volumes, driven by the miners, contributed almost three quarters of the economy’s 2.3 per cent real growth over the past year.
In the March quarter they contributed more than the economy’s better-than-expected 0.9 per cent growth. That is, their contribution was partly offset by detractions from growth by a surge of imports and falling business and public sector investment.
