| Recently, the governor of the Reserve Bank of | | | | signs of an economic downturn, almost all Australians |
| Australia, Glen Stevens wondered in public whether | | | | also expected that the Australian economy would |
| the Australian economy ever faced a recession at all | | | | follow suit. The sentiment was low and that is what |
| during the global financial crisis. This has been | | | | sparked a lot of action that was not really required. |
| something that experts have been debating all | | | | Many economic experts state that the economy is |
| throughout the global financial crisis and many believe | | | | shaped by individuals and that is exactly what |
| that the Australian economy did not really ever enter | | | | happened with the Australian economy during this |
| the stage that can be called recession. Some | | | | phase of the global crisis. The mood and sentiment of |
| however, believe that though the Australian economy | | | | the people was what actually led to taking defensive |
| did experience some recession, the impact was of the | | | | action that further percolated some of the negative |
| meltdown for the Australian economy was far lower | | | | trends that were seen in the Australian economy |
| than what the other developed economies like the US | | | | during the global financial crisis. |
| and the UK. | | | | With the worst part over, many experts now state |
| It seems that as if it was a phobia that gripped the | | | | that the Australian economy has been saved the |
| people of Australia with regards to the recession that | | | | issues due to its relatively higher dependency on Asian |
| never really struck the Australian economy. As the | | | | markets and geographic isolation. |
| United States and United Kingdom started showing | | | | |