{
  "title": "Australia: 2012 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Australia",
  "publication": "IMF Staff Country Reports, November 15, 2012",
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  "summary": "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.",
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      "heading": "Overview",
      "content": "- 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.\n- Outside the mining sector, growth is expected to be slow with still weak consumer confidence and a strong exchange rate weighing on business investment.\n- The main risks are external, and include an intensification of the euro crisis and a sharper-than-expected slowdown in China."
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    {
      "heading": "Growth drivers and outlook",
      "content": "- Mining investment boom is the primary driver of strong overall GDP growth.\n- Non-mining sectors are expected to experience slow growth due to:\n  - weak consumer confidence\n  - a strong exchange rate weighing on business investment"
    },
    {
      "heading": "Main risks and vulnerabilities",
      "content": "- Increased vulnerability to terms of trade shocks driven by concentration of growth in mining investment.\n- External shock scenarios highlighted:\n  - an intensification of the euro crisis\n  - a sharper-than-expected slowdown in China"
    },
    {
      "heading": "Subjects and keywords (as supplied)",
      "content": "- Subjects: Banking, Exchange rates, External debt, Financial crises, Income, International trade, National accounts, Public debt, Terms of trade\n- 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\n\n---\n\n Content in this bundle\n\n- cr12305\n  - cr12305 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr12305 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: November 15, 2012",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475561357.002",
    "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.",
    "Mining investment boom is the primary driver of strong overall GDP growth.",
    "Non-mining sectors are expected to experience slow growth due to:",
    "Increased vulnerability to terms of trade shocks driven by concentration of growth in mining investment.",
    "External shock scenarios highlighted:",
    "Subjects: 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",
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