How is Australia’s economy doing?
In the words of Aussie newspaper the Courier Mail last month, “this golden age is also as dry as sticks”. Australia’s worst drought in memory – some say its worst in more than 100 years – is sapping the country’s energy and threatening vital sectors of the economy. Australia is the second-driest continent on Earth after Antarctica, but the past ten years have been particularly bad. Melbourne, for example, enjoys a relatively predictable annual average rainfall of 639mm a year. The last year has been the driest on record, with just half the expected amount. And it’s not a one-off: Melbourne’s rainfall has been below average for the past decade. Profit from China’s water panic: Australia’s not the only country troubled by water shortages. In this MoneyWeek report, we reveal three stock set to take off as water panic grips Beijing. Click here to find out more.
