FED: Aust economy gets confidence boost

AAP General News (Australia)
08-27-2009
FED: Aust economy gets confidence boost

CANBERRA, Aug 27 AAP - Small Business Minister Craig Emerson is refusing to predict
the extent of national growth despite saying confidence is returning to the Australian
economy.

New figures showed a recent spike in business and consumer confidence which should
be further encouraged, he said.

"It's good for our future because it means people are more likely to spend," he told
ABC TV on Thursday.

"That's what we need at this stage, for people to be spending more in shops and investing."

But Dr Emerson wouldn't be drawn on whether next week's gross domestic product data
would be as positive.

"I'm not a soothsayer," he said, adding the government hoped it would be positive.

Dr Emerson attributed Australia's relatively strong economic performance throughout
the global financial crisis to the government's economic stimulus packages and the "great
attitude" of local businesses.

It was important not to get caught up in doom and gloom and denied Labor ever talked
the economy down, he said.

"If anyone was talking the economy down ... the coalition was talking the economy down,
exaggerating the unemployment numbers.

AAP bsb/rl/dep

KEYWORD: ECONOMY EMERSON

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