Ann: Trading Halt, page-42

I don't think the Australian business cycle is near the top, there's still considerable slack in the labour market and interest rates haven't moved off historical lows. Elsewhere, you could say the US is approaching the peak of the business cycle with headwinds, but there's an unusual situation now with huge tax cuts and infrastructure spending flow to through their economy, and through the world economy. So maybe the US cycle will peak in 2019 or later... Meanwhile China's growth exceeds expectations, Europe is growing, estimates of global growth have been revised up. I feel there's grounds for cautious optimism.