PMI: Manufacturing surges to 12-year high
The article attributes the growth in Industrial production to the weak Australian Dollar. The weak dollar has led to cheaper Exports that have in turn encouraged increase in Investment and Production of Industrial Goods and Machinery in Australia.
Topics include Currency Depreciation and its advantages on domestic production and International Trade. Explain using the changes in the Exchange Rate diagrams and the National Income equation showing increase in I (Investment) and X-M (Net Exports).
Evaluation will cover short term and long-term advantages and disadvantages of Currency Depreciation and its impact on domestic producers, Current Account Deficit, Employment levels, Government Revenue and Economic growth in Australia.