A report on a panel of 23 Australian economists makes not very optimistic reading:
- expects year-average economic growth (the measure reported in the budget) to slide from 4% this financial year to just 2.2% by 2024-25
- forecasts much weaker business investment ... lower household spending
- but higher wage growth and lower unemployment
- expects a flat share market
On the AUD:
- the panel expects ... exchange rate to stay where it is at around 76 US cents as it has for years
- noting that much will depend on the iron ore price and the strength of the US economy
There is much, much more here at the link. Well worth checking out if you are interested:
