Country Economic Forecasts > Australia
The high frequency data are broadly in line with our forecast. The recent slowdown in employment growth has been accompanied by a dip in the consumer confidence surveys, although they remain in positive territory, and growth in retail turnover remains subdued. In contrast, the business confidence and activity surveys are still buoyant, suggesting the recovery in non-mining investment is continuing, and the merchandise trade data indicate that exports have bounced back in Q1 after a weak end to 2017. Given this, we maintain our forecast for GDP growth of 2.7% this year.
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