Economic Growth of Australia: Analysis of Last Five Years

The essay summaries growth performance of Australia over the last five years. The Australian economy is currently recording below average growth rate. Transition in China’s economic growth, decline in export and contraction of housing industry cause a shrink of economic activity. Unemployment rate declined overtime. The increase in employment however is observed mostly in part time jobs. For rate of inflation, after remaining considerable stable for a long period inflation has increased slightly in the ongoing year mainly due to an increase economic prices of fuel, tobacco and electricity.