Current Account in Australia

Australia Current Account | Economic News & Forecasts

Australia - Current Account

The economy hit the brakes in the third quarter as falling house prices, tightening financing conditions and sluggish wage growth squeezed consumer spending. Nevertheless, according to available indicators, growth should regain some pace in Q4 given that retail sales accelerated, the labor market continued to add jobs in October, consumer confidence improved throughout the quarter, and given the sharp drop in oil prices since early October. Despite the weak showing in Q3, the IMF acknowledged in mid-November that the economy is successfully completing a rebalancing process which follows the end of the commodity price and investment boom, and praised the government’s responsible fiscal strategy. However, the Fund also highlighted household debt as a source of systemic risk and accordingly suggested that the cabinet further strengthens the financial sector’s regulatory framework.

Australia - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-3.2  -3.2  -4.8  -3.1  -2.5  

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Australia Current Account Chart

Australia Current Account
Note: Current account balance as % of GDP.
Source: Australia Bureau of Statistics and FocusEconomics calculations.

Australia Facts

Bond Yield2.271.47 %Jan 16
Exchange Rate0.720.05 %Jan 16
Stock Market5,8940.08 %Jan 16

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