Australia’s multi-speed economy remains strong. The mining sector continues to buoy Australia’s terms of trade at relative highs despite a recent commodity price correction, and weaker demand for Australian commodities as a result of the high Australian Dollar.
Whilst 2012 delivered reasonable economic growth over the year, performance softened after the first quarter. Interest rates continue to decrease along with consumer and business confidence. Longer term population growth remains on an upwards trend although it has eased up somewhat in the past year.
Australia has been somewhat sheltered from the global economic challenges the past four years, predominately due to the stimulatory efforts of China, but this protection is dissipating.
Source : Cushman & Wakefield