Asia puts the brakes on Australia and New Zealand
Article Abstract:
The economic crisis gripping most of the Far East is slowing down the economic growth of neighboring Australia and New Zealand. Australian GDP, which posted an annualized growth from 2.6% in the first half of 1997 to 4.5% in the second half, is expected to fall again to an annualized 2.1% in the first half of 1998 due to lower retail trade, a poorer employment outlook and a sluggish tourist industry. Given the economic downturn in Australia's leading trading partners, such as Japan and South Korea, its export volumes are not expected to increase and are even projected to shave off 2.6% from economic growth in 1998. Economic activity in New Zealand is also expected to remain subdued, but easier monetary conditions and the effects of income tax cuts in mid-1998 are likely to bolster growth until the year 2000.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1998
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KPMG seeks net gain in Cisco
Article Abstract:
The article discusses Cisco Systems' purchase of 20% of KPMG Consulting. Effects for Cisco's Internet services, changes for equipment and service providers, and probability for Securities and Exchange Commission approval are discussed.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1999
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