This 2007 Article IV Consultation highlights that the lengthy expansion brought the Australian economy to a position of near full employment. Inflation had eased in late 2006 and early 2007, but accelerated in the second quarter. The current account deficit was 51⁄2 percent of GDP in 2006. The...

This paper reviews developments in the Australian economy during 1994–95. In 1994/95, real GDP grew by 41⁄2 percent as growth in domestic demand accelerated sharply, rising by 63⁄4 percent, despite the impact of a severe drought on farm output. Business investment increased by 171⁄2...