The Australian economy has avoided recession © James D Morgan/Getty Images
The Australian economy has avoided recession © James D Morgan/Getty Images

In the spotlight: Australia

posted by Marc Gadian
14 July 2017

Population

24.6m

Area

7.692m km²

The helicopter view

Despite a weak labour market/wage growth, analysts expect broadly stable growth. GDP is set to expand 2.5% this year, with 2.8% growth in 2018. Inflation is expected to average at 2.1% this year.

Economic outlook

The services sector is the largest part of the Australian economy, according to the CIA World Factbook. Australia was the only advanced economy not to experience a recession in 2008–2009.

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