Economy
The Federal Treasury head admits that Australian consumers are extremely pessimistic about their economy’s future. Martin Parkinson, the treasury secretary admits that currently some industries are facing very high challenges because of strong Australian dollar.
He further added that the overall
In January, Australian economy has added highest number of workers as compared to last 14 months. The jobless rate surprisingly declined, encouraging investors to predict that Reserve Bank of Australia (RBA) may keep interest rate unchanged.
The statistics bureau declared that payroll has increased by 46,300
After taking the very close look at the balance sheets of companies in tourism, education, retail and manufacturing sector, analysts believe that some companies are definitely doing well, but those which are interest rate sensitive and susceptible to high dollar are finding it tough to perform in the twin-speed economy.
Australia’s resources driven economy may face tough challenges in current year. Though mining sector is continually soaring, other industries such as finance, tourism and manufacturing are showing job cuts in two-speed economy of Australia.
Though Australian economy has successfully managed to stay away
Australian economy grew by 2.5%, mainly led by construction and mining activities. The analysts opine that the growth is more than their expectation and may continue for whole year.
However, there are some fears in upcoming months because of expected slowdown in China and Europe.
WEST Australian Premier Colin Barnett and two of his ministers was trapped central a Perth restaurant for added than 30 account today as Aboriginal opponents of an across-the-board built-in appellation action banged on the windows and yelled no deal. About 70 opponents of the Barnett government's $1 billion action to the Noongar people
