Weekend Economist: Conditional confidence

The uneven nature of economic growth and volatile investment spending pose serious questions for emerging economic optimism.

The Australian economy grew at a below trend pace in 2013. Growth is expected to remain below trend in 2014, with the economy navigating a period of transition as the mining boom moves from the jobs intensive investment phase to the production phase. There is evidence that the broader economy is gaining strength, albeit off a soft starting position, particularly in housing as well as consumer spending. That said, there is considerable uncertainty surrounding this transition, compounded by a number of persistent headwinds impacting the Australian economy.


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