The Australian economy has avoided recession and is "through the worst" of the global financial crisis, according to Australian Bureau of Statistics (ABS) data.

The ABS reported that the economy grew by 0.4 percent in the first three months of 2009, defying international trends and what was predicted as an "inevitable" recession.

Economists have put this down to the fact that government spending has supported the economy and the weaker Australian dollar in Q1 has brought about strong export growth.

With the economy showing signs of growth and the Australian $ representing good value against its historic highs of a year ago, it is looking good for those looking to invest in Australian export industries such as the resources sector, along with infrastructure and sectors driven by domestic as well as international demand.

June 2009