IMF Staff Country Reports

Australia: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Australia

Publication Date:

January 18, 2024

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Australia’s post-pandemic recovery remained strong. However, growth is weakening on the heels of tighter macroeconomic policies and financial conditions. While inflation has peaked, it remains persistently high. Labor market shows signs of easing, and the positive output gap is narrowing. Increased cost of living started to weigh on household consumption. The economy remains resilient in the near term but confronts a secular productivity slowdown. Financial stability risks remain contained although pockets of vulnerability exist and risks of spillovers from global financial conditions have increased since the last Article IV.

Series:

Country Report No. 2024/011

Subject:

Expenditure Housing Housing prices Inflation International organization Monetary policy National accounts Prices Production Productivity

Frequency:

regular