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Full-steam for Aussi economy

The RBA announced yesterday that it would again keeps its cash rate at 5.5%. Its excellent Chart Pack gives a feel for what is happening in the Australian economy.

Highlights:

  • Australia’s major trading partners are growing faster than the rest-of-the-world.
  • Australian growth slowed a bit during 2005 but is still strong.
  • Business investment has usurped dwelling investment as the driver of the sustained boom in the Aussie economy.
  • Unemployment rates close to record lows, labour force participation growing strongly.
  • Current account deficit of 6% of GDP but reducing. The trade balance improving.
  • Underlying inflation low at 2.5%.

Its a very positive outlook.

2 comments to Full-steam for Aussi economy

  • Jan

    Yes, however I would like to see the ‘home loan affordability’ picture to be more optimistic… (otherwise we may have to move into your place Harry…). And sadly, Europe continues its uninspiring performance.

  • hc

    Jan, I will post on housing prices soon with reference to women in workforce and fertility issues. Getting ideas together.