(ED) Business stabilises near highs, says St George/ACCI.

(From RWE)

Sydney - Monday - November 29: (RWE) -The St.George-ACCI Business Expectations Survey for November 2004 shows economic growth has stabilised near recent highs, as expectations remain optimistic. Key economic indicators, which have provided much of the economy's impetus, have continued to improve or have settled above their long-term average.

The index of Export Growth has rebounded, an encouraging sign given its recent drop. Wage and non-wages growth continued to be very strong with expectations of further rises firmly entrenched.

Expectations for Australia's economic performance for next year are positive but have become less exuberant than their February 2004 peak.

General business conditions continue to provide an amenable environment for businesses, despite a small moderation in the September results.

Sales Revenue data over the past three quarters remains robust. The vigorous results we have seen may represent the upper limit of sales growth unless exports start to provide alternative momentum.

Expectations data for the September …