Australia still outperforming world: Swan

Treasurer Wayne Swan says Australia continues to outperform other advanced economies, as the impact of the global financial crisis starts to fade.

In his weekly economic note, Swan used an analysis of national accounts data, released last week, to highlight the strength of the economy.

“(The data) showed that the Australian economy continued to grow in 2008-09 at a time when every other major advanced economy experienced deep recession,” he said.

The Federal Government will get a better picture of the economic outlook when growth figures are released on Wednesday.

Economists are tipping the national accounts figures for the September quarter will show a rise in gross domestic product (GDP) of 0.4 percent, taking growth for the year to 0.7 percent.

Treasurer Wayne Swan says Australia continues to outperform other advanced economies, as the impact of the global financial crisis starts to fade.

In his weekly economic note, Swan used an analysis of national accounts data, released last week, to highlight the strength of the economy.

“(The data) showed that the Australian economy continued to grow in 2008-09 at a time when every other major advanced economy experienced deep recession,” he said.

The Federal Government will get a better picture of the economic outlook when growth figures are released on Wednesday.

Economists are tipping the national accounts figures for the September quarter will show a rise in gross domestic product (GDP) of 0.4 percent, taking growth for the year to 0.7 percent.

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