It’s been widely reported that the United States has seen its economy stabilize recently, yet there have still been somewhat widespread concerns that the American economy’s stability may have been overstated and could be obscuring an encroaching recession. With leadership at the World Bank referring to the United States as the sole engine of growth on a global scale, there is certainly reason to fear the potentially devastating impact of the United States slipping back into yet another recession.

Those fears have been largely unfounded, with economists with similar expertise to that of Andrew Charlton believing that the US economy has become stable to such a degree that it ought to begin generating a wholly positive impact on foreign economies, including on the economy of Australia. The speed with which this stability is able to create an impact in Australia is not yet known, which may be contributing to the mostly cautious optimism being expressed in the country regarding this news.

While there is still cause for concern regarding recent developments on exchange rates and growth forecasts, Australians can look to a wealth of data indicating the clear potential for positive future growth. This — along with the fact that global shares as well as commodities have rebounded significantly in recent months — bodes well for an Australian economy in need of entirely positive news.