Australia's Economy Strong Enough to Avoid Recession
THE Australian economy will avoid recession unless Australians talk themselves into one, economic forecaster BIS Shrapnel says.
The Reserve Bank of Australia's rapid-fire rate cuts and the Federal Government's fiscal stimulus package would reboot the flailing economy, the firm's Economic Outlook report tipped.
"Australia is not in the same dire position as other developed western countries," BIS economist Rachael Logie said.
"The US, UK, parts of Europe and Japan are being caught with over-investment, a collapse in property prices and bank balance sheets, problems of bank insolvency and weakening construction, which will mean periods of declining growth for …
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Publication information: Article title: Australia's Economy Strong Enough to Avoid Recession. Contributors: Not available. Newspaper title: The Morning Bulletin (Rockhampton, Australia). Publication date: January 31, 2009. Page number: 28. © 2009 APN Newspapers Pty Ltd. COPYRIGHT 2009 Gale Group.
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