Abbott takes aim at Australia’s foot

Don't be fooled by a strong GDP result. There are clouds on the economic horizon, which will darken as the government continues to batter consumer confidence while exports are under pressure.

All the forecasts point to a strong result for first-quarter GDP growth when the national accounts are released on Wednesday, but while the Aussie dinghy is sitting in calm waters and warm sunshine at the moment, there are storm clouds up ahead.

It looks like March quarter GDP was hit by two beams of sunshine: housing investment lifted domestic demand and a burst of iron ore imports by China lifted net exports. Neither will continue.


{{ twilioFailed ? 'SMS Code Failed to Send…' : 'SMS Code Sent…' }}

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles