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STRONGER PROJECT INVESTMENT BOLSTERS AUSTRALIAN RECOVERY.
CANBERRA, Aug 1 Asia Pulse - A new survey showing project investment recovering for the second quarter in a row has added to evidence that Australia is gaining economic momentum.
The total value of Australian projects rose $A8.9 billion ($US4.48 billion) in the three months to June, the Access Economics/Delta Electricity survey found, bringing projects close to the levels of a year ago.
The value of projects "committed" or "already under construction" rose $A5.7 billion ($US2.87 billion) to $A86 billion ($US43.32 billion) in the June quarter, it said.
"The rise in the value of definite projects suggests that investment expenditure will increase over the course of the next year or so," the survey said.
But the level of activity remained below the June 1998 peak.
While ...
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Source: HighBeam Research, STRONGER PROJECT INVESTMENT BOLSTERS AUSTRALIAN RECOVERY.