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Briefing

Australia: Domestic Demand

Appears in: Asia/Pacific, Macroeconomy, Australia, Pacific, Growth Outlook and Business Cycle

Critical Issues

Background:

Domestic demand in Australia faces both obstacles and opportunities. Higher interest rates are increasing mortgage stress and encouraging frugality among households, particularly those that do not work in commodity-related industries. Although the process of deleveraging among large corporates may be in its final stages as credit growth resumes, smaller corporates face tighter credit conditions as they are exposed to the more vulnerable sectors of Australia's economy. Australia's strong employment figures are bolstering the prospects for domestic demand, and this trend is expected to continue through 2011, alongside improving terms of trade, which are boosting national income.

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Associated Readings

Analysis J.P. Morgan Stephen Walters Jun 19, 2009 Australia's pool of underemployed workers is swelling Analysis FN Arena Chris Shaw May 18, 2009 Australia: Gap Between Jobs And Skilled Labour In Oz Now Closed Analysis Institute for the Study of Labor (IZA) Hector Sala and Marika Karanassou January 2009 Labour Market Dynamics in Australia: What Drives Unemployment? Analysis Westpac Bank Andrew Hanlan Dec 10, 2009 Australian labour force: jobs burst suggests “catch-up”

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