Australia’s Trade Surplus Drops in December

The transcript discusses the economic impacts of drought, bushfires, and the coronavirus on Australia's retail sales and GDP. It examines the Reserve Bank of Australia's (RBA) optimistic GDP growth forecast and the challenges posed by the lack of major investments and ongoing economic shocks. The potential impacts on the budget surplus, tourism, and exports, particularly iron ore, are also highlighted.

What was the retail sales growth in the recent quarter compared to expectations?

• It was worse than expected.

• It was significantly better than expected.

• It was slightly better than expected.

• It was exactly as expected.

What GDP growth rate did the RBA forecast for 2020?

• 2.75%

• 2.5%

• 3%

• 3.25%

What major economic factor is missing that was present during the last strong growth period?

• A mining boom

• A technology boom

• A real estate boom

• A manufacturing boom

What is one of the significant impacts of the coronavirus on the economy mentioned in the transcript?

• Higher international student enrollment

• Increased exports to China

• Lost tourism revenue

• Increased domestic tourism

What is the potential financial impact of the drop in iron ore prices?

• $5 billion

• $10 billion

• $13 billion

• $20 billion