Financial Times FT.com

Australia to escape technical recession

By Peter Smith in Sydney

Published: June 2 2009 17:24 | Last updated: June 2 2009 17:24

Australia is expected to escape technical recession when gross domestic product figures for the first three months of 2009 are released on Wednesday following an unexpectedly strong international trade performance.

Australia has been something of a rarity in the developed world because it has so far avoided two consecutive quarters of GDP contraction, a statistical measure for recession, in large part due to strong exports of coal and iron ore and a rebound in the agricultural sector.

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