Rudd hails growth while others falter

The Australian economy faces a difficult year ahead, but so far it is still
generating growth when a number of major economies are already in recession, Prime
Minister Kevin Rudd says.
The September quarter national accounts released on Wednesday showed gross domestic
product grew by just 0.1 per cent for an annual rate of 1.9 per cent.
Mr Rudd told parliament that Australia was growing more rapidly than the major
economies of the G7 in the past year.
"While this economy in difficult global circumstances has continued to generate
positive growth, despite the challenges, we have a large number of economies who
have already fallen into recession," Mr Rudd said.
"The challenge which lies ahead will be difficult for the Australian economy because
of the roll-on impact of contracting economic growth around the world on real growth
and jobs growth in Australia."
Economic growth crawled to its slowest pace in eight years, rising by a
seasonally-adjusted 0.1 per cent in the September quarter, weaker than the slim 0.2
per cent increase economists had expected.
"This is a positive outcome for Australia, particularly in the context of a global
recession," Treasurer Wayne Swan told reporters in Canberra.
In the year to September, the US grew by 0.7 per cent, Japan by zero per cent,
Germany by 0.8 per cent, France by 0.6 per cent, the UK by 0.3 per cent and Canada
by 0.5 per cent, while Italy contracted by 0.9 per cent.