Turnbull Declares Victory Even as Australia Vote Outcome Unclear

• Coalition may clinch enough seats to form majority government
• Former banker lacks strong mandate for economic reforms

While annual growth has accelerated toward its 30-year average of 3.2 percent and unemployment has fallen to 5.7 percent, Australians don’t feel richer. The nation is the world’s most China-dependent developed economy and needs new growth drivers after prices for its iron ore and coal exports plunged.

http://www.bloomberg.com/news/articles/2016-07-10/turnbull-declares-victory-even-as-australia-vote-outcome-unclear?cmpid=linkedin.bbiz