So, the Australian economy's not a basket case ....

This article was linked in relation to the regional growth . What I found was more interesting was the comments about the Australian economy within the article .

Relevantly ....

The Performance of Manufacturing index rose by 2 points to 53.5 in February – a near six year high. A reading above 50.0 indicates that the sector is expanding. Production, new orders and exports lifted in February

The economic data continues to surprise on a positive note. The manufacturing sector is now expanding at the fast pace in almost six years.

The rebalancing effect across the economy continues to take place. Manufacturing activity has now expanded for eight consecutive months – marking the longest streak in ten years. More importantly the sub-indices like, production, new orders and exports, are showing a credible lift. No doubt the weaker Australian dollar will continue to support the sector. In addition low resource prices – particularly for oil - are keeping down input costs and also providing a boost to the sector

The latest data should ensure that the Reserve Bank continues to remain on the interest rate sidelines. If a rate cut was to take place it would be as a result of a downturn in the global economy rather than domestic economic conditions .

Cliff