Data Alert: IMF forecasts continued Australian economic growth 9 February 2012 Australia’s economic growth is likely to continue in 2012 despite fears recovery from the global financial crisis is “under threat", according to the International Monetary Fund (IMF). In a January 2012 briefing note to the G-20, the IMF states it does not expect a collapse in the world economy but warns that global activity is decelerating. The IMF expects the Euro area economy will fall into a mild recession in 2012 due to the rise in sovereign yields, the effects of bank deleveraging on the real economy, and the impact of additional fiscal consolidation. Growth in emerging and developing economies is also expected to slow because of the worsening external environment and a weakening of internal demand. While Australia is not immune to changes in the global economy, the Asia-Pacific region is resilient and Australia’s economy continues to grow, albeit at a slower pace. It follows on from 20 years of continued economic growth. Australia’s economic fundamentals are also among the strongest in the world. Download Austrade Data Alert: IMF forecasts continued Australia economic growth (PDF) More information |