Australia’s Treasury Secretary, John Fraser, spoke on Australian economic conditions today, noting that Australian business conditions are at a record high, but cited global trade tensions as a potential catalyst for further market volatility which could hamper growth.
Fraser stated that non-mining investment continues to grow, and is beginning to show real signs of strength, while mining investment is expected to pick up considerably moving forward. Fraser also noted that “strong employment conditions” will spark wage growth, though this has become a very comfortable line for the Reserve Bank of Australia (RBA) and has seen little development so far.
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