Economy strong by international standards

Treasurer Joe Hockey insists the Australian economy is still performing well by international standards despite lower-than-expected growth figures.

The latest national accounts show the economy grew by just 0.5 per cent in the final three months of 2014, taking it to an annual rate of 2.5 per cent.

'Our economy over the past year has grown faster than the United States, Germany and obviously Japan and other key trading partners such as Hong Kong and Singapore,' Mr Hockey told reporters in Canberra on Wednesday.

'We are in a good position to manage the transition in our economy and maintain out positive economic trajectory,' he said.

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-News is Reprinted from http://www.skynews.com.au/business/business/national/2015/03/04/economy-strong-by-international-standards.html#sthash.iUGBan5g.dpuf