Fed:Drought showing significant impact on economy-Costello

AAP General News (Australia)
12-06-2006
Fed:Drought showing significant impact on economy-Costello

Treasurer PETER COSTELLO says today's national accounts for the third quarter show
solid growth .. but the effects of severe drought are now showing a significant impact.

Mr COSTELLO says in the period ahead .. growth is likely to remain modest because of
the severe drought.

Gross domestic product grew 0.3 per cent in the third quarter .. to be 2.2 per cent
higher than a year earlier.

Economists had expected GDP to grow by 0.5 per cent.

AAP RTV cb/sb/els/bart

KEYWORD: ECONOMY COSTELLO (CANBERRA)

2006 AAP Information Services Pty Limited (AAP) or its Licensors.