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Australia Showing Signs Of Coming Downturn -Dow Chemical CEO

SYDNEY -(Dow Jones)- Dow Chemical Co.'s (DOW) chief executive said Tuesday that he sees signs of a coming downturn in the Australian economy, arguing that jobs growth and overall competitiveness are in decline. Andrew Liveris was unveiling a plan to resurrect Australia's manufacturing sector at a conference held at the University of Technology in Sydney. "We are seeing troubling signs for our economy at large--maybe even signs of a coming downturn," he said. Liveris said Australia's current growth trajectory is "unsustainable" and that the country had grown far too reliant on China for its prosperity. He noted that over the past 50 years, Australia's manufacturing sector has shrunk from nearly a third of the overall economy to just 8.6% today. "We have seen factories and the jobs in them shipped overseas as other countries become more competitive and we've become less," he said. He added the Australian economy was heading towards a "tipping point," saying the high Australian dollar had made it very uncompetitive. By Shani Raja, Dow Jones Newswires; 61 2 8272 4683; shani.raja@dowjones.com

Stock News for Dow Chemical (DOW)
DateTimeHeadline
01/29/201519:26:44Dow Chemical Earnings Beat Estimates on Higher Volumes -- 2nd...
01/29/201519:24:04Dow Chemical Earnings Beat Estimates on Higher Volumes -- Update
01/29/201519:24:02MARKET SNAPSHOT: U.S. Stocks Turn Sharply Higher; Dow Gains Triple...
01/29/201519:20:16U.S. Stocks Trade Higher
01/29/201519:18:05MARKET SNAPSHOT: U.S. Stocks Wrestle With Negative 2015 Outlooks;...
01/29/201517:37:06Correction to Dow Chemical Earning Story
01/29/201517:21:58U.S. Stocks Mixed as Oil Drop Continues to Weigh
01/29/201513:32:48MARKET SNAPSHOT: U.S. Stocks Drop As 2015 Outlooks Set Negative...
01/29/201511:59:29MARKET SNAPSHOT: U.S. Stocks Aimless As Mixed Earnings Offer...
01/29/201511:29:20U.S. Stocks Waver Amid Data, Earnings
01/29/201508:23:31Dow Chemical Earnings Beat Estimates on Higher Volumes
01/28/201517:14:10U.S. Stocks End Lower
01/28/201514:52:10U.S. Stocks Pare Gains; Apple Buoys Tech Sector
01/27/201513:19:11U.S. Stock Futures Decline
01/22/201508:09:02U.S. Stock Futures Rise in Advance of ECB Move
01/21/201517:01:27U.S. Stocks Rise on ECB Stimulus Hopes
01/21/201515:13:09U.S. Stocks Little Changed in Choppy Trade
01/21/201514:37:27U.S. Stocks Trade Little Changed
01/21/201509:06:34U.S. Stock Futures Weighed Down by IBM and European Markets
01/20/201510:48:18U.S. Stocks Drop Along With Oil Prices

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