Business
The Australian economy is back on its pre-Covid trajectory with solid growth of 0.8 per cent for the March quarter, or 3.3 per cent for 12 months.
Business
Treasurer Josh Frydenberg says the latest national accounts show the enormous resilience of the Australian economy, but warned the floods on the east coast and the Ukrainian conflict will have an impact.
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The chances of Australia heading into a double dip recession was about 30 per cent, according to QIC chief economist Matthew Peter.
The Reserve Bank of Australia has trimmed its economic growth forecast for this year, but is expecting a stronger result in 2022.
Josh Frydenberg says the major challenge facing Australia is an ageing population as the economy feels the long-term effects of the COVID-19 pandemic.
ANZ has tipped even stronger economic growth, an increase in wages and full employment, but the downside will be an increase in interest rates earlier than expected.
