Reserve Bank Bulletin --- Page: 8-14 : July 2007 Original article by Glenn Stevens
LexisNexis Summary
Australia is experiencing the seventeenth year of the economic expansion. The country's economic prosperity is closely linked with the direction of the global economy. The prospects for Australia are good. According to the IMF, global gross domestic product growth in 2007, measured on a purchasing-power-parity basis, will be at five per cent. Inflation is expected to be at about 2.5 per cent for the year 2007, compared with 2.4 per cent in 2003, 2.6 per cent in 2004, 2.8 per cent in 2005, and 4 per cent by mid 2006.
