Powered by MOMENTUM MEDIA
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.

Advertisement
Advertisement

 

Australia to avoid recession
default
TheAdviser logo
default
more from the adviser
first home buyers ta Brokers wrote half of FHLDS loans

The latest figures for the FHLDS suggest that brokers assisted in...

percent arrow down ta Low repayment loan for brokers launches

Specialist lender TrailBlazer Finance has launched a new low repa...

handshake contract ta PLAN bolsters lending panel

The aggregator has announced the addition of Better Choice Home L...

FROM THE WEB