The Australian economy is robust and faces a solid short-term outlook, but it must continue adapting to ensure that its privileged place in the Asia-Pacific region contributes to long-term sustainable growth, according to the OECD’s latest Economic Survey of Australia.

Australia’s productivity growth has decelerated markedly around the turn of the century. Part of the decline is probably temporary, but raising multifactor productivity is key to ensure that living standards continue to grow strongly, especially if the currently strong terms of trade weaken over time.

Austria has achieved high levels of economic growth and well-being, but must address serious demographic, environmental and globalisation challenges if future generations are to share the same prosperity, according to the OECD’s latest Economic Survey of Austria.

Austria enjoys strong material well-being and high quality of life. Steady convergence with top GDP per capita levels translated into decisive improvements in household disposable incomes while significant redistribution has ensured low income inequality and poverty.

Important challenges for the future of Austrian well-being arise from demographic and environmental trends. The ageing of the population calls for a fair balance between life-time pension contributions and entitlements, drawing on the recent pension reform.

Austria has a model of "separate gender roles" in work, family and life arrangements which persists despite efforts to better balance these roles.

Gender mainstreaming with the aim of more gender equality ranks high on the agenda of Austrian policy makers.

Further structural reform is required to raise productivity growth through a better climate for business and stronger R&D outcomes.

Innovation is key to boosting Australia’s productivity and inclusiveness.

R&D activity can play a central role in raising productivity.

The Austrian economy is strengthening, supported by recent tax reform and a pick-up in international trade. With business and household confidence rising and the short-term outlook favourable, policymakers should enact deeper structural reforms that will improve both fiscal sustainability and social cohesion.

Austria’s transition to a digital economy and society is progressing but is slower than in the most advanced economies. A whole-of-government approach should help embrace change and facilitate the flourishing of innovative businesses, work practices and lifestyles throughout Austria.

After several years of subdued growth, economic output accelerated in 2016 supported by a tax reform that entered into force in 2015-16, and more recently a pick-up in international trade.

Digitalisation will redesign production processes and alter relationships between work and leisure, capital and labour, the rich and the poor, the skilled and the unskilled. It creates opportunities to boost inclusive growth and well-being by raising productivity, enhancing private and public services, and democratising information.

Austria’s transition to a digital economy and society is slower than in other high-income small open European economies.

Digitalisation is one of the megatrends affecting societies and labour markets, alongside demographic change and globalisation.

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Imports in Australia decreased to 31815 AUD Million in March from 32993 AUD Million in February of 2020. Imports in Australia averaged 12243.77 AUD Million from 1971 until 2020, reaching an all time high of 36144 AUD Million in October of 2019 and a record low of 393 AUD Million in May of 1972. Australia imports mainly machinery and transport equipment (40 percent of total imports), of which road vehicles account for 12 percent, industrial machinery for 6 percent, electrical machinery for 5 percent and telecommunications and sound recording for 5 percent.The country also imports: petroleum (11 percent); manufactured goods (12 percent); chemicals and related products (10 percent); and food and live animals (5 percent). Main import partners are China (23 percent of total imports), the US (11 percent), Japan (7 percent), South Korea, Thailand and Germany (5 percent each) and Malaysia (4 percent). This page provides the latest reported value for - Australia Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Core consumer prices in Australia increased 1.80 percent in March of 2020 over the same month in the previous year. Core Inflation Rate in Australia averaged 3.59 percent from 1983 until 2020, reaching an all time high of 10.70 percent in the first quarter of 1983 and a record low of 1.50 percent in the fourth quarter of 2016. In Australia, the core inflation rate tracks changes in prices that consumers pay for a basket of goods which excludes some volatile price items. This page provides - Australia Core Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This paper develops a simple model-based framework for stress testing fiscal consolidation strategies under different scenarios of future shocks

This blog post on trust in governments is a compilation of presentations given at the OECD Workshop entitled "Joint Learning for an OECD Trust Strategy", held on 14 October 2013.

The government’s current review of the federal system, focusing on both spending and tax responsibilities, is welcome, as is the “whole of government” approach to the process.

This review particularly recommends shifting away from income taxation to indirect taxation, for instance by raising more revenue from the Goods and Services Tax.

Household Saving Rate in Australia decreased to 3.60 percent in the fourth quarter of 2019 from 4.80 percent in the third quarter of 2019. Personal Savings in Australia averaged 9.44 percent from 1959 until 2019, reaching an all time high of 20.30 percent in the second quarter of 1974 and a record low of -1.70 percent in the fourth quarter of 2002. In Australia, Households Savings correspond to the ratio of household income saved to household net disposable income during a certain period of time. This page provides - Australia Households Savings - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Loans to Private Sector in Australia increased to 1019.15 AUD Billion in March from 984.70 AUD Billion in February of 2020. Loans to Private Sector in Australia averaged 378.24 AUD Billion from 1976 until 2020, reaching an all time high of 1019.15 AUD Billion in March of 2020 and a record low of 20.21 AUD Billion in September of 1976. This page provides - Australia Loans to Private Sector - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Australia is the 12 least corrupt nation out of 175 countries, according to the 2019 Corruption Perceptions Index reported by Transparency International. Corruption Rank in Australia averaged 10.12 from 1995 until 2019, reaching an all time high of 13 in 2000 and a record low of 7 in 1995. The Corruption Perceptions Index ranks countries and territories based on how corrupt their public sector is perceived to be. A country or territory's rank indicates its position relative to the other countries and territories in the index. This page provides the latest reported value for - Australia Corruption Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Corporate Profits in Australia decreased to 94066 AUD Million in the fourth quarter of 2019 from 97430 AUD Million in the third quarter of 2019. Corporate Profits in Australia averaged 46897.81 AUD Million from 1994 until 2019, reaching an all time high of 98032 AUD Million in the second quarter of 2019 and a record low of 12032 AUD Million in the first quarter of 1995. In Australia, corporate profits refers to the net operating profit or loss before income tax and extraordinary items and is net of capital profits or losses arising from the sale of businesses' own capital goods and dividends received. This page provides the latest reported value for - Australia Corporate Profits - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Australia decreased to 349 BBL/D/1K in January from 391 BBL/D/1K in December of 2019. Crude Oil Production in Australia averaged 463.41 BBL/D/1K from 1994 until 2020, reaching an all time high of 781 BBL/D/1K in February of 2000 and a record low of 238 BBL/D/1K in May of 2018. This page provides the latest reported value for - Australia Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Wages High Skilled in Australia decreased to 6120 AUD/Month in 2018 from 6250 AUD/Month in 2015. Wages High Skilled in Australia averaged 6185 AUD/Month from 2015 until 2018, reaching an all time high of 6250 AUD/Month in 2015 and a record low of 6120 AUD/Month in 2018. High Skilled Wages refer to highest estimate of wage of workers doing high-skilled jobs, calculated from sample of wages collected by WageIndicator surveys.

Wages High Skilled in Austria decreased to 3590 EUR/Month in 2018 from 4010 EUR/Month in 2017. Wages High Skilled in Austria averaged 3827.50 EUR/Month from 2015 until 2018, reaching an all time high of 4010 EUR/Month in 2017 and a record low of 3590 EUR/Month in 2018. High Skilled Wages refer to highest estimate of wage of workers doing high-skilled jobs, calculated from sample of wages collected by WageIndicator surveys.

Industrial Production in Australia increased 3.80 percent in the fourth quarter of 2019 over the same quarter in the previous year. Industrial Production in Australia averaged 2.38 percent from 1975 until 2019, reaching an all time high of 12.70 percent in the fourth quarter of 1987 and a record low of -7.70 percent in the first quarter of 1983. In Australia, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page provides the latest reported value for - Australia Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Employment in Australia increased by 5900 in March of 2020. Employment Change in Australia averaged 13907.52 Persons from 1978 until 2020, reaching an all time high of 99200 Persons in November of 1985 and a record low of -74800 Persons in November of 1992. In Australia, employment change refers to the absolute change in the number of persons who work for pay or profit, or perform unpaid family work. Estimates include both full-time and part-time employment. This page provides the latest reported value for - Australia Employment Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Industrial Production in Australia increased 1.50 percent in December of 2019 over the previous month. Industrial Production Mom in Australia averaged 0.57 percent from 1974 until 2019, reaching an all time high of 5.10 percent in the fourth quarter of 1987 and a record low of -7 percent in the first quarter of 1975. In Australia, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page provides the latest reported value for - Australia Industrial Production MoM - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Car Production in Australia decreased to 1 Units in November from 1825 Units in October of 2017. Car Production in Australia averaged 20911.40 Units from 2004 until 2017, reaching an all time high of 39306 Units in November of 2004 and a record low of 1 Units in November of 2017. This page provides - Australia Car Production- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Business Confidence in Australia decreased to -66 points in March from -4 points in February of 2020. Business Confidence in Australia averaged 5.48 points from 1997 until 2020, reaching an all time high of 21 points in April of 2002 and a record low of -66 points in March of 2020. The NAB monthly survey of business confidence is based on a telephone survey of around 600 small, medium and large size non-agricultural companies. The Survey measures the expectations of business conditions for the upcoming month and is a simple average of trading, profitability and employment indices, reported by respondents for their company. The indices are calculated by taking the difference between the percentage of respondents nominating good or very good, or a rise and those nominating poor or very poor, or a fall. This page provides - Australia Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Austria 10Y Bond Yield was -0.10 percent on Friday May 8, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the Austria Government Bond 10Y reached an all time high of 9.04 in October of 1990. Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid.

Australia recorded a Government Budget deficit equal to 0.20 percent of the country's Gross Domestic Product in 2019. Government Budget in Australia averaged -0.77 percent of GDP from 1971 until 2019, reaching an all time high of 2.20 percent of GDP in 1971 and a record low of -4.20 percent of GDP in 2010. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Australia Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Private Sector Credit in Australia remained unchanged at 0.40 percent in February from 0.40 percent in January of 2020. Private Sector Credit in Australia averaged 0.85 percent from 1976 until 2020, reaching an all time high of 3 percent in July of 1986 and a record low of -0.50 percent in July of 2019. In Australia, private sector credit refers to the month-over-month change of credit extended to the economy's private sector for housing, personal and business expenditures. It includes securitisations. This page provides the latest reported value for - Australia Private Sector Credit - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Youth Unemployment Rate in Australia decreased to 11.60 percent in March from 12.10 percent in February of 2020. Youth Unemployment Rate in Australia averaged 13.37 percent from 1978 until 2020, reaching an all time high of 20.10 percent in October of 1992 and a record low of 7.60 percent in August of 2008. This page provides - Australia Youth Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Import Prices in Australia decreased to 113.10 points in the first quarter of 2020 from 114.30 points in the fourth quarter of 2019. Import Prices in Australia averaged 93.66 points from 1981 until 2020, reaching an all time high of 116.30 points in the second quarter of 2001 and a record low of 51.50 points in the third quarter of 1981. In Australia, Import Prices correspond to the rate of change in the prices of goods and services purchased by residents of that country from, and supplied by, foreign sellers. Import Prices are heavily affected by exchange rates. This page provides the latest reported value for - Australia Import Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Households Debt in Australia decreased to 119.50 percent of GDP in the fourth quarter of 2019 from 119.80 percent of GDP in the third quarter of 2019. Households Debt To GDP in Australia averaged 73.02 percent of GDP from 1977 until 2019, reaching an all time high of 121.70 percent of GDP in the third quarter of 2016 and a record low of 34.20 percent of GDP in the fourth quarter of 1977. This page provides - Australia Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Exports to Australia CMLV in Russia increased to 17.90 USD Million in February from 6.30 USD Million in January of 2020. Exports to Australia CMLV in Russia averaged 43.76 USD Million from 2006 until 2020, reaching an all time high of 141 USD Million in December of 2018 and a record low of 0.50 USD Million in January of 2007. Russia accounts for Exports to Australia using cumulative values for each year (CMLV). This page includes a chart with historical data for Russia Exports to Australia.

Exports to Austria CMLV in Russia increased to 378.30 USD Million in February from 230 USD Million in January of 2020. Exports to Austria CMLV in Russia averaged 1034.78 USD Million from 2006 until 2020, reaching an all time high of 3517.10 USD Million in December of 2019 and a record low of 63.70 USD Million in January of 2015. Russia accounts for Exports to Austria using cumulative values for each year (CMLV). This page includes a chart with historical data for Russia Exports to Austria.

Producer Prices in Australia increased 1.30 percent in March of 2020 over the same month in the previous year. Producer Prices Change in Australia averaged 2.24 percent from 1999 until 2020, reaching an all time high of 6.30 percent in the fourth quarter of 2008 and a record low of -1.50 percent in the fourth quarter of 2009. In Australia, Producer Prices Change measures the average change in price of goods and services sold by manufacturers and producers in the wholesale market during a given period. This page provides the latest reported value for - Australia Producer Prices Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Exports to India in Australia increased to 1162575.16 AUD THO in March from 1046432.57 AUD THO in February of 2020. Exports to India in Australia averaged 552638.89 AUD THO from 1988 until 2020, reaching an all time high of 1763000 AUD THO in September of 2008 and a record low of 32000 AUD THO in January of 1989. This page includes a chart with historical data for Australia Exports to India.

The inflation rate in Australia was recorded at 2.20 percent in the first quarter of 2020. Inflation Rate in Australia averaged 4.94 percent from 1951 until 2020, reaching an all time high of 23.90 percent in the fourth quarter of 1951 and a record low of -1.30 percent in the second quarter of 1962. In Australia, the most important categories in the consumer price index are housing (22.3 percent of the total weight), food and non–alcoholic beverages (16.8 percent), recreation and culture (12.6 percent), transport (11.6 percent), furnishings, household equipment and services (9.1 percent), alcohol and tobacco (7.1 percent), health (5.3 percent) and insurance and financial services (5.1 percent). Clothing and footwear, education and communication account for remaining 10.2 percent of total weight. This page provides the latest reported value for - Australia Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Manufacturing PMI in Australia decreased to 35.80 points in April from 53.70 points in March of 2020. Manufacturing PMI in Australia averaged 50.69 points from 1992 until 2020, reaching an all time high of 62.50 points in March of 2018 and a record low of 29.47 points in February of 2009. Ai Group Manufacturing PMI Index measures the performance of the manufacturing sector and is derived from a survey of 200 industrial companies. It is composite index based on the diffusion indices for production, new orders, deliveries, inventories and employment with varying weights. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This page provides the latest reported value for - Australia Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Australia recorded a government debt equivalent to 45.10 percent of the country's Gross Domestic Product in 2019. Government Debt to GDP in Australia averaged 24.41 percent from 1989 until 2019, reaching an all time high of 45.10 percent in 2019 and a record low of 9.70 percent in 2007. Generally, Government debt as a percent of GDP is used by investors to measure a country ability to make future payments on its debt, thus affecting the country borrowing costs and government bond yields. This page provides - Australia Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Consumer Price Index in Australia increased 0.30 percent in March of 2020 over the previous month. Inflation Rate Mom in Australia averaged 1.21 percent from 1950 until 2020, reaching an all time high of 7.55 percent in the fourth quarter of 1951 and a record low of -1.54 percent in the fourth quarter of 1953. Inflation Rate MoM measures month over month change in the price of goods and services. This page provides - Australia Inflation Rate QoQ - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Bank Lending Rate in Australia remained unchanged at 7.92 percent in February from 7.92 percent in January of 2020. Bank Lending Rate in Australia averaged 11.12 percent from 1976 until 2020, reaching an all time high of 20.50 percent in September of 1989 and a record low of 7.92 percent in October of 2019. In Australia, the bank lending rate refers to major banks overdraft lending rate to small and medium businesses. This page provides - Australia Bank Lending Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.