Australia Swan: May Have To Invest In Econ To Strengthen Jobs
"If growth were to slow much further, then we would take additional action, whatever steps are necessary to protect Australian growth and Australian jobs," Swan told Australian Broadcasting Corp. radio.
"We may have to invest in the economy to strengthen jobs and to strengthen industry."
Swan reiterated that the risks to growth are on the downside, but declined to speculate on whether Australia's gross domestic product could contract in third quarter data due next week. Most economists expect a modest on-quarter rise.
Swan said late Wednesday that the worsening global situation will mean GDP growth in the year ending June 30, 2009, will "most probably" be lower than the 2% forecast in the midyear economic and fiscal update issued earlier this month.
-By Rachel Pannett, Dow Jones Newswires; 61-2-6208-0901; pannett@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=CvsyNdtZ0JgBkppd%2FRLX6w%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
November 26, 2008 16:45 ET (21:45 GMT)
Publié le 26 novembre 2008 Copyright © 2008 Dowjones
Partager sur:
