81.   Despite surging exports and a booming housing industry, Australia will suffer from the weakening U.S. economy and slowing global growth, Treasurer Peter Costello said Thursday.

82.   Government reports that depicted modest growth in the housing industry and sluggish activity in manufacturing reassured bond traders.

83.   He said the committee will submit any suggestions from developers to the Government, in order to solve problems faced by the housing industry.

84.   He said the housing industry, a major component of economic growth, had met its probable end a few months ago.

85.   He said a housing industry boom last year had helped pull the economy through a difficult period.

86.   Investors looking for guidance reviewed a new economic report that depicted a pickup in the important housing industry.

87.   Meanwhile, two new economic reports out Wednesday suggest the housing industry remains robust, but consumer confidence is falling.

88.   Moss said the deregulation of the housing industry and the establishment of a mortgage market had created a strong demand for local housing.

89.   Still, the real estate group is optimistic the housing industry would stabilize.

90.   That, he contended, should cushion any effect of a slower economy on the housing industry.