Positive Report on Australian Economy by Reserve Bank of Australia

November 30, 2009

The Reserve Bank of Australia (RBA) have reported in a speech at the 6th National Housing Conference in Melbourne, a number of positive predictions in regards to Australia's economy.

Main points from the speech include:

  • Australia's economy has entered a "new upswing, to last a few more years yet"
  • Australia should expect to see a rise in mining investment over the next 5 years
  • Australia's trading partners in Asia are expected to grow in the next year (improving Australia's exports)
  • Population is expected to grow rapidly, with a rising demand for labour
  • Household incomes are predicted to rise solidly

These predictions highlight the strength of the Australian Economy, as well as the future need for skilled employment by Australian businesses.

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