Recent indicators for the global economy suggested that activity in Australia's major trading partners in the early part of 2014 had expanded at around its average pace. Similarly, the growth in world trade volumes over recent months had been at, or even a little above, the average growth of the past few years. In China, data for the first few months of 2014 had suggested a continuation of the easing in economic growth that had started in thelatter part of 2013. While this moderation was evident across a range of indicators, members noted that the data for the early months of the year were difficult to interpret ... (full story)