Australian confidence cut to the quick

Overall growth looks pretty good, but the Reserve Bank’s determination to carve into Australian dollar strength is decimating confidence.

I mentioned yesterday in my Scoreboard column that Australia’s first quarter growth would probably be closer to 0.5 per cent compared to the consensus forecast of 0.8 per cent – and that’s pretty much what we got. Unfortunately we’ve also seen the usual bout of hysteria that accompanies softer data. Indeed a quick scan of the newspapers this morning sees many senior commentators talking about a recession or downturn.  


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

If you didn't receive SMS code please

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

Related Articles