| The end could be in sight for the crash in commodities, but there is still the potential for downside to mining capital expenditure (capex) and more jobs losses to come. Up to 40,000 jobs might still go in the shakeout that has been a drag on incomes, spending and employment for several years, said Commonwealth Bank (CBA) chief economist Michael Blythe in a note.
The boom-bust commodity story is central to understanding the Australian economy over the past decade, the “boom” ending with commodity prices at record highs in 2011 and mining capex at 150-year highs in 2012...............................................Full Article: Source
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