The Australian economy is assumed to have recovered after a surge in demand for exports and increase in spending from consumers and government. It is predicted that GDP report to be released on Wednesday with growth by 0.7 percent in last quarter after a decline of 0.5 percent in previous quarter. Companies’ earnings rallied as much as 20 percent in the fourth quarter driven by an almost 50% boost from miners.
A rise in money flow from exports has a big impact to country’s income and its nominal growth. This signals Australian economy to surpass technical recession as it continues to move optimistically.
