Australia's economy has become increasingly dependent on mining resources for growth, with manufacturers forced to cut jobs and production as they have contended with the strongest exchange rate in three decades which has made exports prohibitively expensive. The Australian dollar has soared approximately 23 percent in the past two years. Australia is however the only major developed economy to avoid a recession in the aftermath of the global financial crisis. Reserve Bank Governor Glenn Stevens has again kept interest rates at 4.75 percent. Interestingly the RBA board makes decisions on interest rates without publicly revealing the vote of the board. Meanwhile the number of business failures in Australia has risen sharply despite global insolvencies falling to their lowest level in nearly four years. Business failures in Australia rose 12.1 per cent in the June 2011 quarter. Business failures in Australian manufacturing have risen on average by 60 per cent since 2008.
Embark on a journey with Xpatulator, your guide to mastering global living standards. Explore the intricacies of relocating with our insights on cost of living, quality of life, and the unique challenges faced when moving across borders. Our calculators offer essential data for over 780 destinations worldwide, helping you navigate cost-of-living comparisons, purchasing power parity, and tailor international packages. Perfect for those seeking to balance lifestyle and expenses in new locations.
Wednesday, September 21, 2011
Australia Cost of Living
Australia's economy has become increasingly dependent on mining resources for growth, with manufacturers forced to cut jobs and production as they have contended with the strongest exchange rate in three decades which has made exports prohibitively expensive. The Australian dollar has soared approximately 23 percent in the past two years. Australia is however the only major developed economy to avoid a recession in the aftermath of the global financial crisis. Reserve Bank Governor Glenn Stevens has again kept interest rates at 4.75 percent. Interestingly the RBA board makes decisions on interest rates without publicly revealing the vote of the board. Meanwhile the number of business failures in Australia has risen sharply despite global insolvencies falling to their lowest level in nearly four years. Business failures in Australia rose 12.1 per cent in the June 2011 quarter. Business failures in Australian manufacturing have risen on average by 60 per cent since 2008.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment