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Posts sent on: 2014-12-04

Dec042014

Australia's Economy Slows As Private Investment Weakens - Yahoo News











The local unit fell from the day's high internet of 84.69 US cents to a fresh four-year low of 83.92 US cents. View gallery Australia's economy expands by 0.3% in the three months to September, down from 0.5% in the prev "There's always two sides to a boom," JP Morgan economist Tom Kennedy told AFP. "We've had the good side of it, and now we are seeing a little bit of unwind from the investment boom. "It looks like almost all of the surprise here is from the private capex front, which took off 0.5 (percentage points) from GDP and we were expecting a much smaller drag from that." Net exports supported growth, expanding by a seasonally adjusted 0.8 percentage points while consumer spending rose by 0.4 percentage points. But private capital spending slipped by 0.5 percentage points and public investment eased by 0.2 percentage points. - 'Income recession' - Australia's economy is transitioning away from resources driven-growth amid an expected drop off in mining investment, supported by the Reserve Bank's decision to keep interest rates at a record low of 2.5 percent. View gallery Australia's economy is transitioning away from resources driven-growth amid an expected drop off .. [read more] The mining investment boom has helped to keep the economy out of recession for more than two decades, with Chinese demand for Australia's resources helping to insulate it through the global financial downturn. But as business spending declines, growth has slipped below trend while the unemployment rate has edged up to a decade high of more than 6.0 percent. Sharp falls in commodity prices, particularly due to a slowdown in major consumer China and global supply glut, have also hit Australia's growth. fitness
More: http://news.yahoo.com/australias-economy-grows-0-3-q3-2-7-005055386.html




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