Swan still telling us how good weve got it as the country crumbles.
Australia's economic growth has slowed by more than expected in the first three months of the year amid sharp contractions in the mining states, official figures show.
The Bureau of Statistics gross domestic product (GDP) figures show the economy's output rose by 0.6 per cent in the March quarter, putting the annual pace of growth at a below average 2.5 per cent on a seasonally adjusted basis.
The result was lower than economists had expected; forecasts had centred on growth of 0.7 per cent for the quarter.
But Federal Treasurer Wayne Swan says the data "shines a light on the resilience of the Australian economy" amid challenging global economic conditions.
"Australia is doing very well compared to many other developed economies," Mr Swan said.
"This also comes at a time when the high dollar continues to bear down on many of our industrial sectors, making the transition towards non-mining sources of growth more difficult.
"Unlike other countries, we face these challenges from a unique position of strength."
