How is the economy doing currently? The answer is it is doing better than last year and it is growing. The economy is expected to have an average growth rate of 2.7% as per the government. It is quite a good figure considering that whole of Europe has growth rate less than 2 percent.
It is not only the trade centers that are growing, but the whole Australia is showing signs of growth. Asia is the driving force behind the economic uplifting and remains the center of all activities. However there are dangers still lurking. Greek financial crisis is still a threat with the newly elected government unable to prevent the slide. Russia and Ukraine unrelenting unrest is a threat globally and affects Australia very closely. The war in Syria and other parts of Middle East adds another facet to the economic ripples in the world. Australia gets affected but is doing well covering these risks.
The brighter side is boost in spending and the falling inflation. However it is a double-edged sword.The low oil prices have left the economy with extra income which is boosting the economy as a whole. The wage rates are up and unemployment is at a ten-year low.
So what these things signify actually? The mood of the economy is good but the cautious approach is still the best approach. Household spending are up but soon the inflation will cross the zero mark and that will get affected. The investor has to be very careful as the manufacturing and construction sector are still not doing well. So, brace yourself for an uncertain future, but enjoy the good moments now.