Current Macroeconomic Conditions Of Australia

The Australian PMI has been mostly below 50 with an average of 47.98 in past 12 months and an average of 47.94 this year, which suggests a likely contraction in manufacturing. Fluctuation is expected due to its volatile nature but a large percentage change is likely to drive the economy. A 14.03% growth in July is expected to lead to an increase in the coming month but contraction may continue in 2015-2016. From these PMI figures, Australia’s economy might not be performing at its best. The industry might suffer

Both countries sustain a high level of GDP per capita, higher than some of the most developed countries in the world, which shows how they have high living standards (Australia - $67,000, Singapore - $54,000).

Australia’s economic status can be assessed using a range of economic indicators such as unemployment rates, Gross Domestic Product (GDP), inflation rates and interest rates. The economy can affect Australian business’s greatly causing them to flow through the business cycle. The business cycle purpose is to describe the overall trends of the economy and can show growths of high or negative. The four stages in a business cycle are: expansion, this is when the economy has high demands; peak, this is the turning point of the expansions before the economy falls down. A contraction is when the demand for goods and services are low; and trough, is the opposite of a peak. To evaluate Australia’s current economic status factors such as unemployment

The figure obviously had not return to pre-crisis level. Moreover, recent commodity prices had fallen significantly which will affect Australia’s short and long term economy.

Australia has a long history of large and persistent current account deficits. During the 1960s the current account deficit averaged the equivalent of 2 per cent of gross domestic product. The CAD rose considerably, due to the floating of the Australian dollar and the opening of the capital account in 1980s, and by 1990s CAD has sustained around an average of about 4.5 per cent of GDP. However, in recent years the deficit has been falling and in 2011 it was just 2.25 per cent.

Australia and China’s economic growth vary in terms of different increases in their gross domestic product, or GDP, which is measured in US dollars. Economic growth refers to a change in a nation’s output of goods and services over a period of time which is reflected by gross domestic product. During periods of economic boom, GDP is generally high. Similarly, during periods of recession, GDP is generally low. Australia is a mixed market economy, where the government plays a major role in providing collective goods and services while the private sector makes most of the economic decisions. Income is determined by the market but the government controls some private sector behaviour, minimum wage requirements, redistribution of income and other related economic activities. China, on the other hand, is a centrally

The Australian economy expanded 0.5% in the June quarter of 2016, slowing from a downward 1.0% growth in the previous quarter and slightly below market consensus of a 0.6% growth. It was the weakest expansion since the second quarter 2015, weighed down by net trade while investment was flat and final consumption remained steady. Through the year, the economy grew by 3.3%, accelerating from a 3.1% in the March quarter, which is the strongest expansion since the June quarter 2012, bringing the annual growth of 2.9% for the 2015-2016 financial year and going 100 quarters without experiencing a

Australia became a commonwealth of the British Empire in 1901. It was able to take advantage of its natural resources to rapidly develop its agricultural and manufacturing industries and to make a major contribution to the British effort in World Wars I and II. Now, Australia has a prosperous Western-style capitalist economy, with a per capita GDP at the level of the four dominant West European economies. Rich in natural resources, Australia is a major exporter of agricultural products, minerals, metals, and fossil fuels.

Examine the similarities and differences between the Australian and Chinese economies Australia and China have similarities and differences in their economy. Therefore, examination is made between these two nations. Similarities and differences will be identified by GDP, GDP per capital, unemployment levels, standard of living, environmental issue, inequality and role of government. Australia and China's economy size has a vast difference. China's has a population of 1 billion people ranking (2nd) where Australia has a population of 23 million people ranking (12th).

The world economic environment is continually undergoing rapid integration through exports, imports and the coordination of monetary and fiscal policies. Both Australia and Japan’s economies are mixed, whereby they contain elements of planned and market economies. Over the past 3 decades the Australian and Japanese economies have experienced gradual economic growth. Japan experienced a recession in 2014. The monetary system used in Australia and governed by the Reserve Bank of Australia who set the interest rate on overnight loans. The Australian currency is called the Australian dollar (AUD). The Australian Stock Exchange (ASX) is Australia’s stock market, which allows the buying and selling of shares of companies. The Japanese currency is

The unemployment rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month. Unemployment is termed as a major health of the economy and every country tries to reduce unemployment rate for sustainable growth. It is referred as the number of unemployed workers divided by the total civilian labour force. Every economy tries to ensure full employment in the country but there is the existence of natural rate of unemployment though nation tries hard to obtain full employment in the country.

The paper is the Evaluation of Macroeconomic performance of Australia and US from 1990 to 2013. The Australian economy has encountered persistent development and components low unemployment, contained swelling, low open obligation, and an in number and stable budgetary framework. By 2012, Australia had encountered over 20 years of preceded with financial development, averaging 3.5% a year. The US has the biggest and most innovatively capable economy on the planet, with a for every

Impacts of factor of production in Australia Gross Domestic Product is the total value of all the goods and services produced in a country in one year. It tells how rich or poor a country is and it shows if the country’s economy is getting better or worse. In this case, Australia is one of the largest mixed market economies in the world, with a GDP of US$1.525 trillion as of 2014. Australia's total wealth is 6.4 trillion dollars.

New Zealand’s GDP in 2014 was $198.1 billion U.S. Dollars, which ranks 49th in the world. Their economy is free-market oriented and developed, and is routinely ranked as one of the more efficient and least corrupt economies in the entire world [2][3][10]. Currently, GDP expenditure in New Zealand is around 70% based in the services sector, 26% in the industrial sector, and the remaining 4% in agriculture. New Zealand has a high percentage of its GDP composed in both imports and exports in international trade, which stand around 28% for both respectively [2][3]. Because of this high reliance on international trade, the most recent economic recession from 2008-2009 saw real GDP contract for five quarters in a row,

Household consumption alone accounts for approximately 60% of Australian Gross Domestic Product (GDP) and it is the GDP that determines the growth and success of the economy (Graph 1).