Mining boost to economic growth no flash in the pan

Unlike the pre-tariff spike in soybean exports, the near-100% annualised surge in mining structures investment in the second quarter, which accounted for 0.4% points of the 4.1% annualised gain in overall GDP, is not a temporary spike that will be reversed in the second half of this year. Admittedly, growth in mining investment is likely to be more modest, but crude oil production will continue to expand over the next couple of years, boosting economic activity and reducing the trade deficit.