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Friday, 09 January 2009

Economic growth crawled to slowest pace in eight years

3/12/2008 6:03:00 PM.  | Sarah Wiley
The Rudd government says it will do everything it can to strengthen Australia's economy, as the latest figures show very weak economic growth.

The latest growth data was worse then expected - the economy grew just 0.1 per cent in the September quarter, and 1.9 per cent over the year.

Treasurer Wayne Swan says even small growth is good news during such global economic uncertainty.

He says the government is prepared for the tough times ahead.

"We will continue to take whatever action is necessary to strengthen our economy."

Economists say Australia is likely to avoid slipping into recession until at least mid next year.

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