Australia

Australia is a country in Oceania bsocietying the Indian Ocean and the Confederate peaceful Ocean. Australia is comprised of mainland Australia, the island of Tasmania and several small islands in the Indian and Pacific Oceans. The terrain is mostly low plateau with deserts. The government system is a federal parliamentary democracy and a Commonwealth realm. The head teacher of state is the Queen and the head of government is the Prime Minister. Australia has a mixed economic system in which the economy includes a variety of private freedom, combined with centralized economic planning and government regulation. Australia is a member of Asian Pacific economic Cooperation (APEC).
Current Economic Situation

Australia is one of the fastest call downing economies among genuine countries, registering an annual offshoot rate of 2.3% in 2011, up from 2.2% in 2010. In the final quarter of 2011, real GDP gained 2.3% YoY, discuss from 2.6% in the third quarter. The economy is expected by the IMF to grow 3.3% in 2012.

Jobless rate stood at 5.2% in February 2012, up from 5.1% in January. The number of people employed decreased by 15,400 to 11,444,000 in February 2012, mainly driven by the fall in part-time employment.

Consumer Price Index (CPI) recorded an annual suppuration rate of 3.1% in 2011.



In light of the moderation in domestic inflation and weak outlook of developed economies, reserve Bank of Australia, the countrys central bank, kept participation rates unchanged at 4.25% in April 2012.

Retail gross revenue grew 2.5% YoY in February 2012, after 2.7% gain in January. Considering the population growth at 1.5% and retail price inflation at 1.5% during the alike period, the growth rate of retail sales implied declines in per-capita retail sales volume. The result was in line with slowdown in domestic demand as reported.

The Westpac-Melbourne Institute Index of Consumer judgement dropped from 101.1 in February 2012 to 96.1 in March, with the index below the 100 train showing pessimistic...If you want to get a full essay, order it on our website: Orderessay



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