There’s little doubt Australia’s economic recovery has surprised even the most optimistic of us.
Consumer and business confidence are high and 90% of the jobs lost through the CVC (Corona Virus Crisis) have returned.
So what’s ahead?
The NAB have recently released their updated economic forecast looking out to 2023 and are expecting firm economic growth but more moderate reductions in unemployment.
Here’s what the NAB had to say…
The economic recovery continues to unfold at a brisk pace – and forward-looking/high-frequency indicators point to ongoing strength inactivity and the labour market even as some fiscal support is wound back.
While NAB data shows some softening in consumption growth, the NAB Business Survey showed ongoing strength in March.
Alongside strong reads for confidence and conditions, capacity utilisation also strengthened further, suggesting that beyond just rebound inactivity, there is likely a solid underlying momentum in the economy.
NAB sees GDP as … Read more