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Summary. Economic conditions and inflation have evolved broadly as expected in the August Statement. Our overall assessment is that the demand for goods and services still exceeds the supply capacity of the Australian economy, though the gap has continued to narrow. Underlying inflation remains elevated, despite easing in the September quarter.
Australia is a highly developed country with a mixed economy. [30] [31] As of 2023, Australia was the 14th-largest national economy by nominal GDP (gross domestic product), [32] the 19th-largest by PPP-adjusted GDP, [33] and was the 21st-largest goods exporter and 24th-largest goods importer. [34]Australia took the record for the longest run of uninterrupted GDP growth in the developed world ...
An infographic, updated monthly, summarising the composition of the Australian economy.
Australia’s governments have usually shown a pronounced readiness to intervene in the economy, but in general the economy has been dominated by foreign interests—first by those of the United Kingdom, then by the United States and Japan, and more recently by giant multinational corporations.
An overview of key economic statistics. Price indexes and inflation. Consumer price index, wage price index… National accounts. Gross domestic product... International trade. Balance of payments, Imports and exports… Business indicators. Capital expenditure, small business… Finance. Lending, household income and wealth… Government.
An infographic, updated monthly, summarising macroeconomic and financial market trends in Australia and information about developments for our main trading partners.
The Australian economy rose 0.2% in seasonally adjusted chain volume measures; GDP rose 1.5% in 2023-24; The terms of trade fell 3.0%; Household saving to income ratio remained at 0.6%
The snapshot offers a concise summary of Australia's economic trends and prospects, drawing from the OECD Economic Survey, Economic Outlook, and Economic Policy Reform: Going for Growth reports, delivering in-depth analyses of economic trends, suggested policy recommendations, alongside an overview of structural policy developments.
Australia’s economy grew during the December 2021 quarter. Gross Domestic Product (GDP) increased 3.4% in the December quarter compared to the September quarter 2021. At the end of 2021, the Australian economy was 3.4% bigger than it was before the start of the pandemic (December quarter 2019).
The Australian economy staggered into 2024, edging close to recession with just 0.1 percent growth over the quarter. The Australian economy grew by a meagre 0.1 percent over the first quarter of 2024 and just 1.1 percent over the previous 12 months.