PIMCO’s Mead: Housing can’t fill Australia growth hole

Bloomberg headline

This relates to PIMCO’s Robert Mead, who says that Australia’s housing investment contribution to GDP is not sufficient to fill the looming growth hole as mining investment declines.

There are no further details as yet.

This is a negative input for the AUD if Mead’s view is correct – it may well be grounds for arguing for further cuts in Australian rates (though I have to wonder if that is just pushing on a string now).