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Australia Extracts Further Growth From The Mining Boom, Report Says Aug 07 Product Image

Australia Extracts Further Growth From The Mining Boom, Report Says Aug 07

  • Published: August 2007
  • Standard & Poors

Abstract
Melbourne, Aug. 9, 2007-Despite ongoing drought conditions, the Australian economy is now in its 17th year of expansion. With demand for Australia's mineral resources from China (and increasingly India) continuing apace, the medium-term outlook for Australia's economic growth remains decidedly positive. According to a report published today by Standard & Poor's Ratings Services entitled "Buried Treasure: Australia Extracts More Growth From the Mining Boom" the strength of the mining sector looks likely to carry the weaker aspects of the Australian economy for some time. "Growth in mining profits and investment has recently supported upward revisions to Australia's growth outlook to 3.8% in 2007," Standard & Poor's sovereign credit analyst Kyran Curry said. "Global economic growth has brought significant demand for...

Companies mentioned in this report are: Australia (Commonwealth of) (Unsolicited Ratings)
Action: General Comment

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Australia (Commonwealth of) (Unsolicited Ratings)

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