Hrm 531 Week 3 Individual Assignment

This report will show an overview of the current state of the Australian economy and its management by the Federal government through examining economic indicators such as economic growth (GDP), unemployment, inflation and trade.

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.

The impact of globalisation has also changed the structure of Australia 's trade. There has been considerable growth in manufacturing and service industries with limited growth in the rural sector (Table 2). This reflects a combination of changes in world demand and domestic structural reforms.

Once again, this week’s reading is very timely and coincides with current work situations. This week, it has become more apparent that the culture of where I work conflicts with my personal values. Over two years ago, I moved to the Boston area for this job and at the time I realized that there were geographical and historical differences than from previous places I had lived. I also expected social and economic differences. Being the newcomer, to the work situation and environment, there was the need for me to learn about the governmental rules and processes for how decisions are made. In addition, after a few times of being corrected, I learned to call Massachusetts a Commonwealth, not a State. For a time, I embraced the cultural differences and contributed any unease to my unfamiliarity with the area. Then, I started to notice some current organizational values that contrast with my beliefs. For instance, the organization I

The first leading economic indicator in the latest press release of the business cycle of the United States is the average weekly hours and manufacturing (“Description of components,” 2012, February 6). For the month of March, businesses showed acceleration in manufacturing. This is the second straight month in March where manufacturing production has grown. The Institute for Supply Management said its manufacturing index was 53.2 % in February while it turned out to increase to 53.7 percent for March (“US manufacturing expanded more quickly in March,” 2014, April 1). This increase shows how manufacturing production increased from February to March by .5 percent. Although this is a slight increase this shows how there is either growth in the companies or the economy is getting better. Any Readings of 50 percent and higher show an expansion or a growth in manufacturing period (“US manufacturing expanded more

This Business Report studies the impact of the Brexit vote in Europe on Australia’s economy. It examines the changes of the economic variables consumption expenditure, government spending, investment and net exports due to the arisen uncertainty by the recent events. Furthermore, an outlook is given on how these variables are expected to change over the next six months. Based on the findings that the economic variables are going to decrease, GDP is anticipated to drop to a lower level accordingly. It is therefore proposed that the Senior Management Team lowers the cash rate in order to facilitate the growth of Australia’s economic variables.

This paper focuses on Australia’s business cycle. It explains factors of Australia’s business cycle, the rise and fall and how these have changed over time. This paper shows and demonstrates the key features of Australian business cycles during 2010-2015. It, specifically, identifies the chronologies in the nation’s classical cycle (expansions and contractions in the level of output) and growth cycle (periods of above-trend and below-trend rates of economic growth). Which presented an assessment of where Australia’s economy, in the past, current and future.

The industry is marked by Low revenue volatility and medium regulation level. Although industry globalisation is a critical stage and poses a major threat. However over the last five year the industry has boomed due to increase in consumer expenditure , after the recovery of Australian economy in 2010 the industry has started to positive upturn. The industry is expected to grow at annualized 3.3% to a total of $771.3 million.

According to S&P/ASX 300 Metals & Mining (Appendix 1), the total return of negative 17.39% and price return of negative 19.54% indicate a poor performance due to the high cost of the Australian economy. Daley and Kehoe (2012) state more than half of Australian mines have costs above the international average which causes the industry to lose its competitive edge and thus exports will decrease. Additionally, uncertainty of demand and price partially

Whilst there are signs of gradual improvement across the globe, this is occurring rather unevenly and is not without risk of decline. Companies should be aware of the risk for burst in the ‘housing bubble’ and the economic downturn that would follow. Australian and New Zealand exports rely heavily on the Asian market,

The construction industry in Australia has over the recent three years provided increased employment thereby improving the economic financial performance. This has been fueled primarily by middle market construction firms. However, forecast shows that the total non-residential construction would fall between 2014 and 2016 due to falling levels of investment on project activities. The economic deficits incurred in the construction industry would be offset by investments in the telecommunication and commercial construction, especially in apartment building.

To begin with the article discusses the industry of retail, in particularly the month of January is used as a basis. Economists estimated that retail spending would rise 0.4 percent, however it only rose 0.3 percent (ref). This notion of not reaching the predicted market forecast, has heightened Australian’s concern with the country’s economic growth.

In Australia the use of fiscal and monetary policies are implemented to achieve a steadily growing and stable economy. The main features to achieving the macroeconomics objectives are fiscal policy, monetary policy and floating the exchange rate. Macroeconomics looks at the economy as a whole and these policies are used and manipulated due to the current state of the economy. The four main macroeconomic objectives are full employment, external balance, economic growth and price stability. The changes to rates and implementations from the Government will be documented in terms of months. Not all rates change monthly (eg. GDP presented quarterly) but all trends such as unemployment and expenditure and analysed in time brackets of months

Foreign direct investment, an important source of funding and technology for manufacturing, is low compared to Malaysia and Thailand. Manufacturing output growth is likely to ease to about 3% in view of the softer external demand. Lastly, the Services sector growth is expected to dip by a little over 1 percentage point to 7.5% in 2008, as retailing and finance sectors slacken. The services sector accounted for about half of GDP in 2007.

In a recent article by Channel News Asia dated 13 July 2012, it was reported that Singapore 's GDP contracted by 1.1% on a Quarter-on-Quarter seasonally-adjusted annualized basis, compared to the 9.4% expansion in the preceding quarter. The weakened growth momentum in Q2 was mainly due to a sequential contraction in the manufacturing sector. The sector declined by 6.0% reversing the 20.9% expansion in the preceding quarter. Annex A