Australia’s central bank upbeat on economy despite slower growth

SYDNEY: Australia’s central bank on Friday tempered expectations of an improvement in economic growth as the nation grapples with the shift away from mining-led investment, but said there were signs of a strengthening jobs market.

The Reserve Bank of Australia said “in the face of significant structural change, the economy has continued to grow at a moderate pace over the past year,” but added there were signs of improving conditions including in the labor market and in the non-mining sector.