Australia’s economy likely to rebound 2.5% from recession in Q3 – Reuters poll
|Australia’s GDP is expected to rebound by the most in 12 years in the third quarter, although remains vulnerable to downside risks amid a slowdown in business investment due to the coronavirus pandemic, the latest Reuters poll of economists showed on Monday.
Key findings
“Official figures on Wednesday will show the economy grew about 2.5% in the July-September quarter, bouncing back from its first recession since 1991. Some expect Australia's economic output could return to pre-pandemic levels as soon as the first half of next year.”
“Growth in the current quarter is seen even stronger as the state of Victoria, formerly a COVID-19 hotspot, emerged out of its marathon lockdown in October, while other states broadly reopened in May.“
“Even so, the country's central bank is expected to keep policy rates near zero and extend its A$100 billion ($73.86 billion) quantitative easing programme next year as inflation and unemployment are likely to undershoot its target range for a while yet.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.