Australia given bumper budget surplus for Christmas, but growth ...
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CANBERRA : Booming tax revenue has given Australia a bumper budget surplus but the economic growth forecast has eased by half a percentage point to a still strong three percent, Treasurer Peter Costello said.
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NEW YORK -- A closely watched measure of future economic activity rose for a second consecutive month in December, pointing to sustained, gradual growth.
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Analysts have offered their latest judgment of the Christmas shopping season: good, but not great.
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TONY EASTLEY: For years Australia&#39;s economy has been going at a cracking pace. Boom and surge were the words that accompanied the Treasurer&#39;s descriptions of the economy as Australia enjoyed growth not seen since the 1960s.
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CANBERRA Treasurer Peter Costello of Australia on Tuesday raised the government&#39;s forecast cash surplus for the year ending June 30 to 6.2 billion Australian dollars, or $4.7 billion, because of higher tax revenue, petroleum royalties and dividend
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Australia&#39;s Treasurer Peter Costello said his forecast in May for aA$2.4 billion ($1.7 billion) budget surplus will help keep interest rates from rising.
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KELOWNA, BC - The federal government and the provinces will have more money than expected because the economy has been growing faster than forecast, Prime Minister Paul Martin said Tuesday.
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Britain's public finances enjoyed a record surplus in January, boosted by soaring tax receipts, figures showed Wednesday.
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Australia's conservative government has pledged to spend an extra 39 million dollars (27 million US) on immigration controls and border protection measures, including new customs offices in Beijing and Jakarta.
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THE story of John Howard&#39;s campaign is the absence of any recession legacy and the multiple benefits he gains from Australia&#39;s greatest growth cycle since World War II.
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The Australian opposition's battered economic credibility received a boost as its big-spending tax plan won widespread plaudits, although a poll showed most voters prefer the conservative government's financial management.
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AustraliaÂs economy grew at its slowest pace in three years in the second quarter as higher interest rates and record fuel prices curbed consumer spending. The gross domestic product rose 0.3 percent from the first quarter, the Bureau of Statistics said. Consumer spending slowed, rising 0.6 percent in the second quarter after increasing 0.9 percent in the first quarter, the report showed. A drop in inventories subtracted 0.7 percentage point from growth in the quarter, and net exports subtracted 0.2 percentage point from growth. First-quarter growth was revised lower to 0.7 percent from 0.9 percent. Also, the Reserve Bank of Australia left its benchmark interest rate unchanged at 6 percent.
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Australia reports a slowdown in economic growth, as the country continues to struggle with a severe drought.
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OTTAWA (CP) - A strong domestic economy and healthy global demand means Ottawa is on pace to record another whopping budget surplus - &#36;8.9 billion - this fiscal year, says Finance Minister Ralph Goodale.
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Australia's economy is well positioned to ride out the turbulence in world financial markets and will grow around 4.4 percent this fiscal year, the International Monetary Fund said Thursday.
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Consumersâ attitudes on the economy in the run-up to Christmas made an unexpected jump as of the end of December, according to a survey released Thursday.
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Australia announced a A$10 billion  ($7.6 billion) plan to increase the size of its army on  Thursday so it could respond more quickly to emergencies caused  by growing instability in small Asia-Pacific nations.