An export-led surge in Germany has pushed GDP growth to 3.7%, against only 1.6% in France and a euro-zone average of 1.7% (see article).

ECONOMIST: France loses ground to Germany

Indeed, a surge in export sales in June probably means that GDP growth for the most recent quarter will be revised up from 1.9% at an annualised rate, which is already respectable.

ECONOMIST: The world economy

As for the Mining Boom III, the pick up in export volumes flowing from the surge in mining investment in iron ore, coal and liquid natural gas will start to get underway around 2014-15.

BBC: Viewpoint: Is Australia's resources boom over?

Indeed America's export growth has been much stronger (a sudden surge in imports was behind the second-quarter trade gap).

ECONOMIST: The world economy