Australian economy grows strongly in Q1
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Australia&#39;s economy expanded 1.6 percent in the March quarter, posting its strongest growth in three years and sending the Australian dollar to a 17-year high, official data released Wednesday showed.
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Australia's economy is well positioned to ride out the turbulence in world financial markets and will grow around 4.4 percent this fiscal year, the International Monetary Fund said Thursday.
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AUSTRALIAN home owners can breathe a sigh of relief: stable interest rates are predicted well into next year. The Reserve Bank issued a glowing report card on the Australian economy yesterday, now that the
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The economy grew at its strongest pace in more than a year during the spring as solid improvements in international trade and business investment helped offset weakness in housing.
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SYDNEY (Dow Jones)--Australian data released Monday confirmed a story of reaccelerating economic growth in the second quarter as company profits surged while inventories
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By staff writers and wires. AUSTRALIAN company profits jumped 10.3 per cent in the June quarter thanks to robust consumer and business spending that will boost economic growth outcomes and the electoral prospects of the Howard Government.
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Increased spending by consumers and business helped US economic growth rise at a higher-than-predicted rate in the July to September period.
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The Australian share market renewed its climb Tuesday, led by gains on Wall Street and a turnaround in the miners that had driven the market to its biggest fall in six months the day before.
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THE number of job advertisements in major Australian newspapers and on the internet rose 4.1 per cent last month compared with July and heralded a pickup in hiring, ANZ Bank economists said yesterday.
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The pound was boosted against the dollar after the preliminary estimate for the GDP was left unchanged, suggesting that growth in the economy remains robust.
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The economy expanded faster than expected in the last quarter of 2006 and remains strong.
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Pressure grew on Australia's central bank on Wednesday to raise interest rates despite the turmoil in global stock markets and fears of a US recession after new data showed core inflation surged to a 16-year high in the final quarter of 2007.
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Increased spending by consumers and business helps US economic growth rise at a higher-than-predicted rate in the July to September period.
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The U.S. economy grew at a stronger than expected pace during the final quarter of last year, boosted by robust spending and slowing inflation that more than offset the biggest decline in residential investment in 15 years, a government report on Wednesday showed.
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Australia's main share index hits a new all-time high, buoyed by positive economic news.
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The countryâs trade deficit narrowed in January as coal and manufacturing exports rose, signaling that growth may pick up in the Asia-Pacific regionâs fifth-largest economy. The trade shortfall narrowed to 876 million Australian dollars ($677 million) from 1.38 billion Australian dollars in December, the Bureau of Statistics reported. Exports rose 2 percent and imports dropped 1 percent. Total exports climbed to 18.12 billion Australian dollars in January. Farm exports like meat, sugar, wheat and wool declined 1 percent. Shipments of nonrural goods, which include minerals, increased 3 percent. Total imports fell to 18.99 billion Australian dollars from December. Imports of intermediate goods, which include fuel, decreased 1 percent.
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ECONOMIC growth will improve and the trade deficit will narrow but interest rates will have to rise, a new international report on the Australian economy has found.