Australia : 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Australia

Author/Editor:

International Monetary Fund. Asia and Pacific Dept

Publication Date:

September 30, 2015

Electronic Access:

Free Full Text (PDF file size is 3017 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This 2015 Article IV Consultation highlights that the Australia’s economy is now facing a large transition as the mining investment boom winds down and the terms of trade has fallen back. Growth has been below trend for two years. Annualized GDP growth was about 2.2 percent in the first half of 2015, with particularly weak final domestic demand, and declining public and private investment. Capacity utilization and a soft labor market point to a sizeable output gap. Nominal wage growth is weak, contributing to low inflation. The FY2015/16 Budget projects a return to surplus in 2019–20.

Series:

Country Report No. 15/274

Subject:

English

Publication Date:

September 30, 2015

ISBN/ISSN:

9781513543239/1934-7685

Stock No:

1AUSEA2015001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

65

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