Wednesday, March 2, 2011

Australian Economy Shows Mixed Signals in Q4 2010

The Australian economy produced a solid yet uninspiring GDP result for the final quarter of 2010. The Aussie economy expanded at a quarter-on-quarter growth rate of +0.7% (or 2.8% annualized), putting year-on-year growth at +2.7%. The majority of growth came from inventory-building, with net exports neutral, and an insipid contribution from consumption. Thus the Australian economy appears to be passing through the hard part of its recession-free recovery.

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