International Monetary Fund. Asia and Pacific Dept
INTERNATIONAL MONETARY FUND
This 2013 Article IV Consultation highlights that the Australian economy has performed well relative to many other advanced economies since the global financial crisis. A transition phase has now been reached as the terms of trade-driven mining investment boom of the past decade has peaked, and the economy is moving to the production and export phase. Annual growth slowed to 21/4 percent in the third quarter of 2013, below the trend growth of about 3 percent. Inflation remains anchored in the Reserve Bank of Australia's (RBA) target range.