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ARTICLE · 21 OCTOBER 2010

ECONOMIC & MARKET OUTLOOK- Quarter ending 30 September 2010

Moore Australia
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The Australian economy grew strongly over the June quarter recording an increase of 1.2%. March quarter growth was very much dominated by the public sector as private sector demand actually detracted from growth, albeit slightly. The challenge in the June quarter was always going to be whether or not private sector demand could improve sufficiently enough to withstand the gradual withdrawal of stimulus measures. And indeed it has. Household consumption expenditure increased by 1.6% but impor

AustraliaStrategy
Martin Fowler
Martin Fowler
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Australian Economy

Overview

The Australian economy grew strongly over the June quarter recording an increase of 1.2%. March quarter growth was very much dominated by the public sector as private sector demand actually detracted from growth, albeit slightly. The challenge in the June quarter was always going to be whether or not private sector demand could improve sufficiently enough to withstand the gradual withdrawal of stimulus measures. And indeed it has. Household consumption expenditure increased by 1.6% but importantly was driven largely by vehicle purchases (up 11.2%) and discretionary recreation spending (up 3.3%). Large purchases such as vehicles are typically only made when individuals feel confident about their financial prospects and so is a very positive indicator. Private dwelling construction also showed solid improvements.

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