Outlook for the Australian Economy - January 2019

The Australian economy remains resilient, despite headwinds from slowing global growth and a correction in the housing market. Real GDP increased by 2.8 per cent over the year to the September quarter 2018, and looks set to grow at an above-trend average annual rate of 3.0% over 2018 compared to a below-trend rate of 2.4% in 2017.

Underpinning the improvement in the Australian economy has been four key factors: diminishing mining sector headwinds, improving public finances and a surge in public infrastructure spending, recovery in non-mining business investment, and a strong external sector. In our view, the outlook for the Australian economy remains solid.

Their latest piece, Australian Economic outlook from our economics team focuses on the major drivers of growth.

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