Australia: 2012 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Australia
November 15, 2012
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GDP growth is likely to remain strong, although narrowly driven by a mining investment boom, increasing the economy’s vulnerability to terms of trade shocks. Outside the mining sector, growth is expected to be slow with still weak consumer confidence and a strong exchange rate weighing on business investment. The main risks are external, and include an intensification of the euro crisis and a sharper-than-expected slowdown in China.
Subject: Banking, Exchange rates, External debt, Financial crises, Income, International trade, National accounts, Public debt, Terms of trade
Keywords: article IV consultation discussion, Asia and Pacific, CR, economy, Global, growth prospect, Income, ISCR, liability positions vis à vis nonresident, market, membership status, mining investment, rate, reserve bank of Australia, Terms of trade
Pages:
55
Volume:
2012
DOI:
Issue:
305
Series:
Country Report No. 2012/305
Stock No:
1AUSEA2012001
ISBN:
9781475561357
ISSN:
1934-7685
