090206 - Treasurer - Press Conference

National Accounts March quarter 2009

THE HONOURABLE WAYNE SWAN MP TREASURER

Stimulus working to cushion Australian economy (Quarterly GDP growth)

0.6

Per cent

Per cent

0.6

0.4

0.4

0.2

0.2

0.0

0.0

-0.2

-0.2

-0.4

-0.4

-0.6

-0.6

-0.8

-0.8 Without stimulus

Actual

-1.0

-1.0

-1.2

-1.2 Dec-08

Mar-09

Australia stronger than other OECD economies (Quarterly GDP growth – March 2009)

1

Per cent

Per cent

1

Note: Czech Republic quarterly growth is an estimate based on preliminary through the year data.

Australia

Poland

Korea

Norway

Switzerland

Sweden

France

-7 Greece

-7 Belgium

-6

Canada

-6

Portugal

-5

US

-5

Spain

-4

UK

-4

Hungary

-3

Italy

-3

Austria

-2

Netherlands

-2

Czech Rep.

-1

Germany

-1

Japan

0

Mexico

0

Australia stronger than other OECD economies (Through-the-year growth in household consumption – March 2009)

1

Per cent

Per cent

1

0

0

-1

-1

-2

-2

-3

-3

-4

-4

-5

-5 Korea

Japan

UK

US

Canada

Germany

France

Australia