Stephen Walters, chief economist at JP Morgan in Sydney:
- Australia will struggle to fill the deep void left behind by a fading mining investment boom,
- Subduing growth for another year
- Residential building and exports will be solid
- But be few other contributors to growth
- Manufacturing in sharp decline
- Forecasting GDP growth of 2.75% for Australia in 2014
” expect another year of sub-trend growth in Australia, a further rise in joblessness, benign inflation, sluggish growth in incomes, and perhaps another rate cut
