Australia: Economic growth to sustain at a steady rate - NAB

Sandeep Kanihama FXStreet Contributor

Analysts at NAB explain that they are quietly confident that improving prospects for infrastructure construction and non-mining business investment will help sustain Australia’s economic growth at a steady (but moderate) rate, despite some obstacles ahead.

Key Quotes

“Real GDP growth is forecast to strengthen in coming quarters to 3.2% y/y by Mar-18, ease to 2.4% by Dec-18 before picking up slightly to 2.6% by end-19. Our inflation forecasts have been revised down slightly to reflect new weights from the ABS, with core inflation expected to hit the bottom of the RBA target band by end-18. The RBA remains comfortably on hold, with few hints of a move in either direction. We still expect two 25bp hikes in H2 2018, subject to more progress being made on reducing unemployment and/or underemployment, and wages growth showing some (at least tentative) signs of picking up.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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