Australia Economic Growth Assignment

AUSTRALIAS ECONOMIC
GROWTH JUMPS TO 34 PER CENT
IN THE JUNE QUARTER

Table of Contents
Australian economic growth jumps to 3.4% in June quarter. .........................................................3
What has led to enhance GDP with use of graph........................................................................3
Is nominal GDP best measure to use?.........................................................................................3
What are the risk to the future growth?.......................................................................................4
REFERENCES................................................................................................................................5

Australian economic growth jumps to 3.4% in June quarter.
What has led to enhance GDP with use of graph.
The economy of Australia has advanced a seasonal adjusted 0.5% in the June quarter.
Therefore, positive contribution from the new exports and fast enhancement in government that
spending on the back of subdued consumption of households that offset a dwelling investment.
Illustration 1: Australian economy growth
(Source: Australia Real GDP Growth, 2019. )
From the stated graph, it has been stated that Australia has expanded 1.4% in the June
2019, following the growth as 1.7% in the previous year. Therefore, nominal Gross domestic
growth has reached to the 347.6% in June 2019. Therefore, GDP per capita has been reached to
57,821 in June 2018. Thus, gross saving rate has been measured as 25.2% in June 2019.
Is nominal GDP best measure to use?
The Australian nominal GDP has reported at 5.364 in June 2019. It has been highly
developed by the market economy. Thus, nominal GDP is a decent enough stand alone
component to measure output of an economy. However, the problem arise at the time of
undertaking comparison across different time periods.

What are the risk to the future growth?
This has been stated that Australia's economy slowed in 2018 to 2019 due to hosing
downturn and server drought. However, in future economic growth expected to pick up on the
back of monetary and fiscal stimuli. This will be helpful to boost up the income of Household
and spending of consumer.

REFERENCES
Online
Australia Real GDP Growth. 2019. [Online] Available
through:<https://www.ceicdata.com/en/indicator/australia/real-gdp-growth>.