Iron phwoar
Is Australia on track to record a current account surplus twinned with a Federal Budget surplus?
Well, we must be getting pretty close.
Estimated iron ore export values exploded to a record A$8.8 billion in May 2019, leading to a mammoth record monthly result for Aussie dollar exports.
The annual value of Aussie dollar exports is off to the moon, in rapidly approaching $500 billion.
This drove another record trade surplus, with the trend result being a surplus of $6 trillion.
And finally, the lower Aussie dollar helped to power the tourism services balance to its highest level since forever.
The wider services sector recovery is rather stuttering along, however.
Enormous result for corporate and mining profits, and tax receipts.
Strange times: the economy can begin to hum again, assuming banks finally loosen the credit taps to allow rate cuts and tax cuts to do their job.
