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Business

Marion Rae

Aussie economy 'OK' despite weaker housing: BlueScope

BlueScope Bluescope Steel

The boss of steelmaker Bluescope says he feels ok about the Australian economy despite a profit dip. (Dean Lewins/AAP PHOTOS)

A slump in housing starts forms the foundation of a flat Australian outlook for BlueScope Steel but the industrial leader is upbeat about prospects in the United States.

Australia's largest steel manufacturer reported a lower profit on Monday amid volatile global economic and industry conditions, in stark contrast to record profits of two years ago during a construction boom.

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