Abstracts » Business, international

Making tracks

Article Abstract:

The opposition party in Australia warned that the economy was failing in Jan 1995 but all indicators seem to show that it is under control. Consumer spending is slowing to 3.7% for the 12 months to Mar 1995 compared to 5.2% in the 12 months to Dec 1994. The Reserve Bank of Australia raised the short-term interest rate three times to 7.5% since Aug 1994, causing concerns about further rate increases. Australians are also concerned that government spending is still too high to reduce the deficit.

Management, Interest rates, Monetary policy, Budget deficits

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Morose Christmas

Article Abstract:

There has been a dramatic increase in investment by large Australian businesses recently, and inflation remains low. However, the country's economy is still weak, with unemployment rising and company profits falling. Consumer confidence is low, and bankruptcies rose to a record 17,340 between Jan and Jun 1996. Some observers believe that an economic revival will begin soon, especially as a result of growing investment in service industries.

Economic development

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Alarm bells

Article Abstract:

Doubts about Australia's reviving economy were reinforced by the May 4, 1993 announcement that the country's current-account deficit rose to a 29-month high in March. The gap had risen from $861 million in Australian dollars in February to $2.1 billion a month later. This announcement suggested that the country has not yet solved its balance of payments problems and caused the Australian dollar to fall 1%.

Balance of payments

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