KEEPING A RECESSION AT BAY.

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    • Subject Terms:
      AUSTRALIA
    • Abstract:
      The article reports on the economic forecasting for 2002 in Australia. Policymakers showed their confidence that the country can prevent the occurrence of recession in the economy. It was shown that the nation has experienced an increase in its retail trade, consumer spending, and its gross domestic product is expected to rise by 2.5% in 2001. Although exports fell by 2.5%, Governor Ian MacFarlane stated that reserve banks are ready to adjust their monetary policy to address global recessions.