Is Australia's economy better than the US?
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1 Answer
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Based on recent 2023 data, both Australia and the US economies have shown resilience, but have also faced challenges. Australia had experienced slower growth due to high inflation and interest rates, while there was low unemployment. On the hand, the US recorded a stronger GDP growth but also dealt with inflation concerns. Both countries faced global economic uncertainties. Australia's resource exports remained strong, particularly in critical minerals. The US dollar's strength impacted global trade. Labor shortages affected both economies. While the US economy appeared stronger in some metrics, Australia maintained its reputation for
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