Sunday 4 December 2011

Australia's Boom In Perspective

The OECD's latest economic outlook says Australia will have the fastest growth rate in the developed world next year at 4 percent.
In other news, ratings agency Fitch has awarded Australia its top sovereign credit rating, making it the first time Australia has been AAA rated by all three agencies. Only 15 countries hold the AAA rating.
In today's economic roller coaster we know that all is not rosey for Australia as European debt problems continues to impact on all world economies and, more critically, China's manufacturing activity contracted in November for the first time in 32 months.
Of course, traders at The Queen Victoria Market know that turning around retail sales is right up there with any of these global issues.