Economic growth in Australia in the third quarter

3 December, 2010


Australia's economic growth slowed in the third quarter, that according to the experts, due to a significant strengthening of the Australian dollar against the major currencies.Gross domestic product (GDP) Australia in the period from July to September grew by only 0,2%.

In the second quarter, the figure was 1,1%. Sydney hopes, that the growing demand for Australian companies in the world will help accelerate the growth of GDP in the fourth quarter.


It should be noted, that due to high demand on the world market of iron ore and other minerals,Australia avoided a recession in the 2008-2009 years.

В среду группа Rio Tinto, one of Australia's largest producers of iron ore, announced an additional investment of $1,2 billion in the mining of ore in the west of the continent-.



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