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1.Market Observations, 8.Was Sticky

4 Sept 2019 (AFR) – Surplus takes economists back to the 1970s

(4 September 2019, AFR, p17, Sarah Turner, Reporter)

‘Australia’s first current account surplus since the 1970s reflects a very different economy to that of 40 years ago when domestic recession and booming agricultural exports pushed the trade balance into the black.’  <snipped…>

‘The epic $5.9 billion current account surplus reported for the June 2019 quarter was the biggest since June 1973, driven by higher prices, and accounted  for 1.2 per cent of GDP, Mr Evans said.’

Read more at AFR.com (might need AFR login, or try: AFR.com/trial)

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