Australian economy ends 2009 with strong growth

[pampango]

Source: BBC

Australia's economy grew strongly in the final three months of 2009, capping a year in which it was the only major economy to avoid recession. The nation grew 0.9% from the July-to-October quarter, its biggest expansion since March 2008, the government's statistics bureau said.

Australia's growth was "the envy of the developed world," Treasurer Wayne Swan said.

For the whole of 2009, Australia's economy expanded 2.7%. By contrast, the economies of the UK, Germany and Japan shrank 5% in 2009, and the US contracted by 2.4%.

It avoided the worst of the slump due to huge government spending and massive Chinese demand for its commodities.



Read more: http://news.bbc.co.uk/2/hi/business/8546717.stm

[Ex Lurker]

1. in other words, the stimulus worked n/t

[corporal waldo]

2. Not only did it work...

...but it was the only stimulus in the world that was handed out to the working people of the country. Everybody else bailed out the banks and got screwed even further.
Aaaand, we've got socialised medicine....

[WriteDown]

3. This helps....

"...massive Chinese demand for its commodities. "

[AlphaCentauri]

4. Looks like immigrants have not damage their economy at all

may be their the motor behind it.