Let’s keep with the Reserve Bank governor Michele Bullock who has told a Senate estimates hearing in Canberra this morning there could be no economic growth for the start of the year.ANZ is forecasting 0 per cent economic growth for the first three months of the year, while NAB and KPMG expect growth of 0.1 per cent.
“Well, forecasting is a difficult process but our expectation at this point would be no, we don’t expect it to increase, we expect growth to be quite low,” she said.Asked by Liberal senator Jane Hume whether Australia was in a per capita recession – where economic growth per person is going backwards – Bullock said that kind of label was not helpful.“I would say that we are in a position where the economy is very weak,” she said.“We’ve got ...
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