Australia: Staff Report for the 2004 Article IV Consultation
IMF Staff Country Reports, November 8, 2004
Source details
- Canonical URL
- Australia: Staff Report for the 2004 Article IV Consultation
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Bibliographic details
- Published: November 8, 2004
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451802009.002
Main findings and outlook
- Economic growth has rebounded, underpinned by continued buoyancy of domestic demand.
- Improvement in the external environment contributed to the rebound.
- Gradual recovery from the drought supported the outlook.
- The main risk to the outlook relates to overheating in the housing market; however, recent indicators suggest a soft landing is likely.
- Other risks identified include:
- a re-emergence of drought,
- sustained high oil prices,
- weakening of external demand.
Key subjects and keywords
- Subject: Balance of payments, Current account deficits, Exports, External debt, Housing prices, Inflation, International trade, Labor, Prices
- Keywords: building approval, CR, Current account deficits, Exports, fiscal surplus, Global, Housing prices, housing sector, Inflation, ISCR, lending, lending to owner occupier, owner occupier, Pacific Islands, reserve bank of Australia, soft landing, surplus