Australia falls short of world upgrade

Article Abstract:

Forecasts for world economic growth in the year 2000 have been upgraded up to 0.5% in most countries. Growth in the United States will slow but not as quickly as originally forecast. Despite the world forecast, Australian output growth is to slow in 2000. Australian economic performance has been tied historically to that of the United States. A large risk to improved world growth is the fear that sharemarket prices in the U.S. could drop dramatically.

United States, World, Column, Securities, International economic relations

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There is hope among the chaos; growth in Europe and the United States will counter the looming recession in Asia, and the momentum of growth in Australia is likely to continue for some months

Article Abstract:

The economic crisis in Asia is not expected to have a major impact on the world economy because of the growth expected in Europe and North America during 1998. Asia's economic crisis will have a major impact on Australian trade in 1998 but domestic growth is expected to reach 3.25%. World economic growth should reach 2.5% to 3% in 1998 compared with 3.1% growth in 1997.

National Income & Expenditure, Asia

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Two-track economy

Article Abstract:

Rising consumer spending and strong industrial profits, coupled with declining resource investments and a weak export market, have created a two-tier economy in Australia. The key to the Australian economy is how long consumers will continue to spend and, with low interest rates and income tax cuts in 2000, consumers will have no disincentive to stop spending.

Exports, Investments, Consumption (Economics)

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