{
  "title": "Australia: Staff Report for the 2004 Article IV Consultation",
  "publication": "IMF Staff Country Reports, November 8, 2004",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/australia-staff-report-for-the-2004-article-iv-consultation-17830",
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  "summary": "Australia’s 2004 Article IV Consultation reports that economic growth has rebounded, underpinned by continued buoyancy of domestic demand, an improvement in the external environment, and a gradual recovery from the drought.",
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    {
      "heading": "Main findings and outlook",
      "content": "- Economic growth has rebounded, underpinned by continued buoyancy of domestic demand.\n- Improvement in the external environment contributed to the rebound.\n- Gradual recovery from the drought supported the outlook.\n- The main risk to the outlook relates to overheating in the housing market; however, recent indicators suggest a soft landing is likely.\n- Other risks identified include:\n  - a re-emergence of drought,\n  - sustained high oil prices,\n  - weakening of external demand."
    },
    {
      "heading": "Key subjects and keywords",
      "content": "- Subject: Balance of payments, Current account deficits, Exports, External debt, Housing prices, Inflation, International trade, Labor, Prices\n- 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\n\n---\n\n Content in this bundle\n\n- cr04353\n  - cr04353 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr04353 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: November 8, 2004",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451802009.002",
    "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:",
    "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",
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