Australia gets pat on back from Moody's
AAP
Global credit rating agency Moody's says the latest economic growth figures confirm Australia's economic strength as "very high".
New figures show the economy grew by 0.9 per cent in the September quarter for an annual rate of 2.5 per cent, which Moody's says compares favourably with many of Australia's triple-A rate peers.
"The GDP data demonstrate Australia's economic resilience to low commodity prices, falling capital spending and China's slowdown," Moody's associate managing director Atsi Sheth said in a statement on Wednesday.
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