The Australian economy continues to recovery strongly.
This note looks at the outlook. The key points are as follows:
With growth of 1.8% in the March quarter, Australian GDP is now back above its pre pandemic level.
While uncertainties remain – including around the latest coronavirus outbreak in Victoria – there are seven reasons for optimism that the recovery will continue at a decent rate:
Vaccines
Global growth is ramping up
Consumer spending is well supported
Dwelling investment is likely to remain strong
Business investment is strengthening
Fiscal stimulus is continuing
Monetary policy remains ultra-easy
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