Australia's economy grew twice as much as forecast in the fourth quarter as consumers and companies increased spending. Gross domestic product rose 1 percent from the third quarter, when it expanded 0.3 percent, the Bureau of Statistics said in Sydney today. The median estimate in a Bloomberg News survey of 25 economists was for a 0.5 percent increase.
"The bulk of the Australian economy, which is in wholesale and retail and manufacturing and service industries, is being kept strong by high employment levels and rising wages,'' Treasurer Peter Costello said in Canberra today.
Woolworths Ltd., Australia's biggest retailer, said sales in the three months to Dec. 31 rose 11.5 percent from a year earlier. (AMEX: EWA). Invest with caution,.
More Technical Stuff on EWA:
Moving Averages:
50 day – 24.47
200 day – 21.81
Top Five Holdings -
BHP Billiton Ltd - 9.86%
National Australia Bank Ltd - 7.04%
Commonwealth Bank of Australia - 6.95%
Australia and New Zealand Banking Group Ltd - 5.78%
Westpac Banking Corp - 4.99%
DE Smith of MyportfolioView.com
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