Australia. Guide to Australia

‘Economy, finance, business’

The announcement of the us credit rating downgrade caused a situation on the Australian stock exchange, close to panic. Quotes fell immediately by four percent, which was the worst performance since the middle 2008 year, when the height of the global financial crisis was noted. Besides, many Australians began to think about, to withdraw your retirement savings from those schemes, That «Tied» to stock market quotes.

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The Australian Government is planning to June 2013 year to create 500 thousands more jobs.
Australia's Finance Minister Wayne Swan said, that, as the Government of the country in the coming years will create more jobs, unemployment in Australia will fall on 4,5%.

Wayne Swan said "we are going to arrange to hire more Australians and are going to create 500 thousands of additional jobs in the next couple of years, to reduce the unemployment rate to 4.5%.

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Australia's economic growth slowed in the third quarter, that according to the experts, due to a significant strengthening of the Australian dollar against the major currencies.Gross domestic product (GDP) Australia in the period from July to September grew by only 0,2%.

In the second quarter, the figure was 1,1%. Sydney hopes, that the growing demand for Australian companies in the world will help accelerate the growth of GDP in the fourth quarter.
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