Australia: Macroeconomic Outlook Report

Australia: Macroeconomic Outlook Report

Summary

Mining, manufacturing and utilities activities contributed 22.6% to the gross value added (GVA) in 2023, followed by financial intermediation, real estate and business activities (21.5%), wholesale, retail and hotels activities (9.8%). In nominal terms, the three sectors are expected to grow by 3.7% each in 2024.

Four major metropolitan regions in Australia comprised 57.3% of the country’s population and accounted for 59.5% of the country’s GDP in 2023, according to GlobalData’s cities database.

The S&P/ASX 200 index has been on a volatile trend. As of March 05, 2024, the index stood at 7,735.8, compared to 7,283.6 on March 05, 2023.

Scope

In September 2023, the New South Wales government announced to invest $2.2 billion to foster development in housing and infrastructure projects.

Reasons to Buy

Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.

PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations

Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.

This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.