Economists continue to be surprised by how strongly the Australian economy is moving out of the financial doldrums, with another set of Treasury figures outdoing most forecasts.

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Australian Economy Defies the Recession
14/09/09

Economists continue to be surprised by how strongly the Australian economy is moving out of the financial doldrums, with another set of Treasury figures outdoing most forecasts. With such a solid, positive outlook there seems to be more incentive than ever for people looking to find brighter employment prospects and a better standard of living by moving to Australia.

 According to the Australian Bureau of Statistics, Gross Domestic Product rose by 0.6% over the last three months – faster than any other advanced country has managed over the same period. The Australian Central Bank has maintained its key interest rate at 3% for the fifth month in a row, and there have been strong signs of growth in consumer spending, exports and business investment.

 “There has seldom been a better time to move to Australia,” said Migration Bureau director, Grant King. “European economies are still struggling and unemployment rates continue to rise. By contrast, Australia offers new settlers a springboard to a secure, positive future.”

 Australian Treasury Minister, Wayne Swan, highlighted recent rises in public demand and construction work, which have been bolstered by the Government’s stimulus package and by improved profit forecasts of many key Australian companies. "This is a remarkable result given how fragile the global economy is," Swan said.

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