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Bloomberg has an Aussie piece today worth a look:
Australia’s economy is expected to avoid recession in the coming year even as its top trading partner China slows sharply on Covid restrictions and rapid US policy tightening raises risks of a downturn there.
Soaring export prices and a weaker currency are bringing a cash windfall Down Under at a time when other developed economies are flashing warning signs. A very tight labor market and still-elevated savings are also helping Australian households cope with rapidly increasing borrowing costs.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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