With all the bad economic news coming out of the US, and concerns about sluggish business investment in Australia, it’s pleasing to read good news coming out of Townsville:
THE Port of Townsville has had a record start to the financial year with 1.26 million tonnes of cargo passing through last month, compared to 893,000 tonnes in July 2009.
Source: Townsville Bulletin, 28 August, Port Boom: 1.26m tonnes last month
Queensland may have to rely on strong exports to keep its economy moving if the sluggishness in business investment isn’t reversed soon (see last week’s ABS release on business investment).
P.S. On concerns for the US economy, this piece by David and Libby Koch is worth a read: