Current Economic Performance of Australia since 2015

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ECO10250:
ASSESSMENT DETAILS S2 2019
ASSIGNMENT 2

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Executive summary
This paper contains a report regarding the current economic performance of Australia viz-a-
viz the performance since the year 2015. The study takes up many indicators of the economy
ranging from the GDP growth rate to the terms of trade of the economy. The paper has also
provided the challenges or issues that the economy can encounter in the coming months as
well.

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Contents
Introduction................................................................................................................................4
Discussion..................................................................................................................................4
The current state of the Australian economy versus the state since the year 2015....................4
Three major issues facing the Australian economy in the next 12 months..............................10
Conclusion................................................................................................................................11
Reference..................................................................................................................................12

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Introduction
Economic performance is the utmost concern for any government and one of the ways to
monitor the progress is to compare the current value of indicators with the values in the last
few years. This allows the government and the concerned authorities to understand the slope
of the changes in the value of indicators. This paper aims to compare the current state of the
Australian economy with its performance since the year 2015. In addition to that, the paper
also aims to find out three issues facing the economy in the next 12 years.
Discussion
The current state of the Australian economy versus the state since the year 2015
GDP growth
2015 2016 2017 2018 2019
0
0.5
1
1.5
2
2.5
3 2.3360754810
9676
2.8467549510
8566 2.3425822867
6258
2.8349481329
6824
0.2803546
Annual GDP growth rate
Annual GDP growth rate
Figure 1: Annual GDP growth rate of Australia
(Source: Tradingeconomics.com. 2019)
The current economic growth rate of Australia as per August 2019 is 0.8035% which is
slightly more than the annual growth rate of that year as of now. The performance of the
economy in the last 5 years has been better than the current state of the economic growth rate
of the country. The growth rate of the economy in the year 2019 has been the lowest in the
last 5 years. Before that, the percentage of economic growth amounted to around 2.65% on an
average till the year 2019 (ABC News, 2019). However, the month of august has shown some
signs of retrieval that can bring the economic growth rate near 1% annually for the year 2019-