Economy resilient to commodity slump

Australia’s economy is continuing to display resilience to commodity price declines. However, external financing risks do linger, global ratings agency Moody ’s Investor Ser vices said on Wednesday. Australia’s growth should continue to outpace its commodity exporting triple-A (stable) rated peers New Zealand, Canada and Norway over the coming years as rising mineral exports offset weak prices, while the ser vices sector ramps up from the drop in Aussie dollar. “The weaker Australian dollar and lower interest rates have allowed it to take an increasing market share of rising global demand for tourism and education ser vices,” Moodys said in a report released on Wednesday.