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Emerging markets optimistic

Emerging markets optimistic

(13 October 2009 – Global) In another powerful sign of Australia’s emerging markets-led recovery, trade confidence has surged among Australian trade-oriented businesses, according to the latest HSBC Trade Confidence Index. Australia’s Trade Confidence Index rose to 107 in the third quarter of 2009, an increase of more than ten percent since the second quarter.

The report showed that any country with a score of over 100 has improved confidence in their markets.

The global index includes 12 markets including key economies in the Asia-Pacific region, the United Arab Emirates, Brazil, the UK and US.

Andrew Skinner, head of trade and supply chain for HSBC in Australia, said that Australia’s economic prospects are increasingly tied to the fortunes of emerging markets, particularly Asia and especially China.

The index reported that 42 percent of respondents expect trade volume to increase, while greater China remains Australia’s key trading region for 59 percent of respondents.

There’s no doubt that Australia has benefited from the resilience of emerging markets through the global financial crisis, Mr Skinner added.

Product demand is increasing, with one third fewer respondents citing lack of demand for products as a growth barrier.

Also, 45 percent of respondents expect the global economy to expand in the next three months, a 33 percent increase from the second quarter.
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