Lunatic RBA: Resources to boom forever

Honestly, they never learn. This time from Alexandra HeathHead of Economic Analysis at the world’s happiest central bank:


Good morning and thank you to the AMEC for the invitation to be here today.

The resource sector makes a significant contribution to the Australian economy. It accounts for about 20 per cent of business investment and almost 60 per cent of Australia’s exports. There are also significant spillovers from mining activity to other parts of the economy. Data on inter-industry linkages tell us that activity in industries that service the mining industry quadrupled as a share of GDP between the early 2000s and the peak of the mining investment boom in 2012/13.

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