Outlook for Australia in 2020: slow GDP growth, slow wage growth, no lower jobless rate
A snippet from CBA economists outlook for Australia this year:
- GDP expected +2.5% in 2020
- little change to the slow pace of wages growth
- also little change expected for the unemployment rate
2.5% GDP growth remains under trend and makes inroads in u/e difficult.
CBA cite global risks to this outlook:
- China slow down
- Potential for a US recession
CBA says the RBA still has policy tools available if needed.