Australian GDP affected

Australian GDP affected

SYDNEY (Reuter): Westpac Banking Corp. managing director Bob Joss said yesterday he expected the financial crisis in the Southeast Asian region to cut into Australian economic growth next year.

"I think it will definitely impact on the Australian economy. It is very likely that there could be some moderating impact on our growth next year because we are such an important trade partner with the region," Joss told reporters after giving a speech to a banking function.

"(The impact could be) perhaps a quarter of a percent per annum, something of that magnitude," he said.

"It is a hard thing to estimate but it has got to have some dampening effect."