Photographer: Carla Gottgens/Bloomberg

Services Start Countering Australia's Waning Mining Boom: Chart

In Australia, an economy in the throes of a mining rout is finding a new driver for growth. Services exports continued to outpace metal ores in February, data released Tuesday show, even as iron ore prices rose 19 percent that month. The economic transition, mentioned today by the central bank, may continue as analysts expect iron ore’s price to retreat.

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