Australia Saved By Data Centres For Now, As Our Luck Runs Dry…

Well, well, the latest data from the ABS revealed that Australia’s economy decelerated last quarter, missing estimates, thanks to the early impact of higher fuel costs and rising interest rates as well as slowing wages, with modest household and public sector expenditure as well as cyclone disruptions to mining and export activities. There are three key elements to the results, lower mining output due to cyclones, the unwinding of electricity subsidies and a surge in import-heavy data centre construction as booming data centre investment was responsible for the nation’s entire economic growth in the first three months of this year. Remove […]