Economics for Business and Management 2: Australian Economic Forecast

This report provides an economic forecast for the Australian economy, analyzing its performance and the impact of central bank decisions and monetary policy. The report anticipates stable economic growth, with a forecast of approximately 2.5% until the end of Q1 2018. It discusses the influence of global events like G20 agendas and decisions by Donald Trump on the country's exports and imports. The unemployment rate is expected to fluctuate across sectors. The Reserve Bank of Australia's stable cash rate is also examined. The report delves into the concept of economic forecasting, using macroeconomic indicators such as GDP, inflation, and unemployment. It highlights the importance of the RBA's decisions, including the current low cash rate and its effects on consumption and investment. The report also includes the AD/AS model to demonstrate the factors that determine economic growth and recession. The report concludes that the country is on track for economic development and discusses the factors influencing inflation and GDP growth.