Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Australia to avoid recession

Staff Reporter 1 minute read

The outlook for economic growth continues to weaken but Australia should sidestep a recession in 2009, according to the Westpac-Melbourne Institute Leading Index.

The Index, which indicates the likely pace of economic activity three to nine months into the future, slowed 0.5 per cent in October to 0.6 per cent.

While the slowdown was not as sharp as the four per cent decline recorded in September, the index indicated that growth in 2009 would indeed be weak.

Westpac chief economist Bill Evans said there was no indication of a recession but rather weak, albeit positive, growth.

Mr Evans said the bank was now forecasting the cash rate to bottom out at 2.75 per cent by the June quarter.

 

Australia to avoid recession
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
Darren Stratford Dianne Robinson Kristie Oldfield ta RedZed appoints BDMs, product manager

The lender for self-employed borrowers has appointed two BDMs in ...

digital money ta Wisr closes $5m raise

Wisr has wrapped a $5 million capital raise to accelerate its loa...

digital signatures Suncorp enables e-signatures on post-approval loan docs

The non-major bank has said that it will accept e-signatures on p...