The figures incorporate estimates for the December quarter of 2002, based on partial data available. After a strong recovery from the problems encountered in the Asian crisis, Australian exporters have generally found the going tough since about the middle of 2001. Between mid 2001 and the end of 2002, export volumes declined by about 2½ per cent.
Less time, energy, and money is being spent on protecting oneself against inflation. Labour and financial contracts have lengthened, while the amount of time lost to strikes and lockouts has dropped. What is more, the dynamics of the inflation process have been changed, to the point that inflation itself has become much more stable and predictable.