According to Skelton Sherborne, a freight forwarder of mining and construction equipment, imports of heavy machines into Australia fell 62.5 percent in November and December. Skelton Sherborne Director Brad Skelton said the last slowdown of this rate occurred in December 2008 / January 2009 when imports fell 77 percent.
He told the Australian Associated Press, “If everything is as wonderful as they (miners) say, why is there a slowdown in the last two months in the volume of equipment coming into the country?”
“That’s what I can’t reconcile … the real underlying story is that there is a lot of concern about just what’s going on in the world”
Earlier this week the International Monetary Fund (IMF) predicted non-oil commodities will continue to fall in 2012. It expects prices will come off 14 percent this year as world growth weakens further.
Mr Skelton said “And if commodity prices fall, I don’t think Australia is immune to a pretty difficult 2012 economically.”
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