Australia: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Australia

January 18, 2024

Preview Citation

Format: Chicago

Australia: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Australia, (USA: International Monetary Fund, 2024) accessed December 21, 2024

Summary

Australia’s post-pandemic recovery remained strong. However, growth is weakening on the heels of tighter macroeconomic policies and financial conditions. While inflation has peaked, it remains persistently high. Labor market shows signs of easing, and the positive output gap is narrowing. Increased cost of living started to weigh on household consumption. The economy remains resilient in the near term but confronts a secular productivity slowdown. Financial stability risks remain contained although pockets of vulnerability exist and risks of spillovers from global financial conditions have increased since the last Article IV.

Subject: Expenditure, Housing, Housing prices, Inflation, International organization, Monetary policy, National accounts, Prices, Production, Productivity

Keywords: CPI expenditure weight, CPI indicator, Employment white paper roadmap, Fiscal policy coordination, Global, Housing, Housing prices, Inflation, Mid-Year Economic and Fiscal Outlook, Productivity, State government leader

Publication Details

Pages:

102
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2024/011
Stock No:

1AUSEA2024001
ISBN:

9798400262364
ISSN:

1934-7685

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