Friday, March 30- Australia (Other)

Friday, March 30

The Westpac-Melbourne Institute leading index of economic activity measures the likely economic activity three to nine months into the future. The institute predicts that the Australian economy's growth will accelerate this year, and this is "'likely to be associated with continuing robust consumer spending, a more positive investment environment, stability in the housing construction cycle and evidence of the much anticipated surge in exports of resources.'" The US, China, and Japan may influence this growth as well. This is good news for Australia, as this shows that consumers are doing well with the economy also. If they are spending, their incomes must be well suited for this spending. This would also provide reason for their increase in investments since they have more money to invest, and more people now have the money to purchase and pay for their homes.

http://www.theaustralian.news.com.au/story/0,20867,21420576-20142,00.html