Moderate Economic Growth Foreseen For Australia

The Conference Board, a New York-based business research group, believes that Australia's economy will continue its pattern of moderate economic growth for the next several months.

GDP growth, adjusted for inflation, picked up to a 3.5% annual rate during the first three months of this year, a significant improvement from its 1.9% average annual rate during the second six months of 2005.

The Conference Board's index of leading economic indicators for Australia fell by a tenth of a percent in May, the most recent month for which data are available. The index now stands at 160.2 (1990=100). Despite May's slight decline and following April's one-tenth-percent decline, the index of leading indicators for Australia posted a six-tenths-percent increase during the six months through May.

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