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Within today’s dump of balance of payments data that feeds into tomorrow’s June quarter national accounts release was the important news that Australia’s terms-of-trade soared 6.9% over the quarter to be up 24.0% year on year:
Biggest ever terms-of-trade boom.
Australia’s terms-of-trade index has now hit its highest ever level.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.