NAB is expecting a quarterly GDP number of 0.8 per cent, ANZ 1 per cent
NAB warns there is close to a 50/50 chance that Australia will slip into recession over the coming couple of yearsIt's backwards-looking data but it's still significant.NAB sees a 0.8 per cent growth in the fourth quarter of 2022. Gross domestic product basically consists of growth in consumption spending , business spending and investment, government spending and the difference between exports and imports.It is clear from the partial data already available that Australians spent quite a bit on services late last year, and that will have given the economy a bit of a kick."In part, this reflects the ongoing recovery in services spending," Mr Oster noted, as people resume lifestyles closer to pre-COVID norms.
From an imminent recession we’ve now graduated to ‘recession risks are rising’! If only economists could learn to forecast, accurately 😀. auspol
Australia’s two speed economy sees corporates make money while the man in the street struggle. Not a true representation of standards of living of the masses.
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