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

_IMF Staff Country Reports, September 30, 2015_

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## Bibliographic details
- Published: September 30, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513543239.002

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### Economic transition and outlook
- The economy is 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.
- The FY2015/16 Budget projects a return to surplus in 2019–20.

### Domestic demand, investment, and output gap
- Final domestic demand was particularly weak in the first half of 2015.
- Public and private investment were declining.
- Capacity utilization and a soft labor market point to a sizeable output gap.

### Labor market, wages, and inflation
- Nominal wage growth is weak.
- Weak nominal wage growth is contributing to low inflation.

### Subject areas and keywords highlighted
- Subject: Banking; Capital adequacy requirements; Financial regulation and supervision; Housing; Housing prices; Income; Inflation; National accounts; Prices.
- Keywords include: Asia and Pacific; Capital adequacy requirements; consumer confidence; consumer confidence confidence indicator; CR; financial market volatility; Global; house price inflation; Housing; Housing prices; Income; Inflation; iron ore price; ISCR; liability positions vis-à-vis nonresident; market expectation; price.

*International Monetary Fund. "Australia: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Australia", September 30, 2015.*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/australia-2015-article-iv-consultation-press-release-staff-report-and-statement-by-the-43320_