Difference Between The And Australia

1390 Words Aug 18th, 2015 6 Pages
QUESTION ONE
a.
Seasonally adjusted data March quarter 2014 - March quarter 2015 December quarter 2014 - March quarter 2015
Australia 2.3% 0.9%
United States 2.9% 0.14966% (≈0.150%)
(Australian Bureau of Statistics, 2015) (Bureau of Economic Analysis, U.S. Department of Commerce, 2015)
There is a slight difference in growth change over the past year for the US and Australia (by 0.6%). The difference between the respective levels of growth over the December quarter 2014 – March quarter 2015 is greater (0.89). Overall, economic growth patterns are similar between the US and Australia. b. Seasonally Adjusted data has been used: Australia United States
Highest rate of growth Exports of goods and services (at 5.0% pts) Gross private domestic investment (8.6%)
Lowest rate of growth Total public gross fixed capital formation (at -2.4% pts) Exports (-6.0%)
Contributed the most to GDP growth Exports of goods and services (at 1.1% pts) Gross private domestic investment (1.39% pts)
Contributed the least to GDP growth Imports of goods and services (at -0.6% pts) Net exports of goods and services (-1.12)
(Australian Bureau of Statistics, 2015) (Bureau of Economic Analysis, U.S. Department of Commerce, 2015) c. In the Australian National Accounts the largest industry sector in the March quarter 2015 is "mining" (B) (total: $35 173 million value added). The second largest is "Financial and insurance services" (K) (total: $34 842 million value added).

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