Chinese data generally weaker in July, returning to trend after strong June

Steady as she goes – economic growth and other key indicators stable in Q2.

Revisions to real GDP growth forecasts this month largely reflect a stronger than expected rebound in coal exports following disruptions from Cyclone Debbie in Q1. Further out, we have not fundamentally changed the tone of our outlook.

Fifteen years ago, two separate groups of enthusiastic investors and abalone farmers set out to secure a footing on the global stage. It wasn’t until they joined forces in 2008 that everything changed and the farms, within the space of nine years, went from individual 70-tonne entities to being the biggest producer of abalone in the southern hemisphere.

The NAB Rural Commodities Index is an index of 28 agricultural commodities weighted by the relative size of each commodity in the Australian agricultural sector.

The autumn break this year was rather mixed, with some areas receiving good rain and others missing out.

Fifty years ago Australia’s main export market was the United Kingdom, shipping wool and wheat. Today over 83% of all Australian exports are going to Asian countries. Nuts and grains – specifically, nuts – are climbing the ranks of top exports.

Many farmers take control of their supply chain but few market the benefits to customers as successfully as Australian Grain Link. Over the past 16 years this strategy has helped them carve out lucrative specialty niches that show no signs of shrinking.

The NAB Monthly Business Survey was a little softer in May, but still points to a healthy business sector. Business conditions are elevated and confidence is holding up above long-run average levels.