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Business Outlook Upbeat Globally, Soft Locally

Posted: February 6th, 2013 | Author: | Filed under: Business News | Tags: , , | 1 Comment »

Business Outlook 2013-2014It’s that time of year, forecast! Leading economic forecasting agency – Deloitte Access Economics – points to global growth will start to improve this year, but a slight slowdown in Australia.

The Business Outlook report from Deloitte Access Economics predicts that the big mining construction projects – which have fuelled much of Australia’s recent growth – are “hurtling towards a peak”. Deloitte Access director, Chris Richardson, says the non-mining industries will need to step up.

“The risk is that Australia has a pothole, and that does mean that other sectors will have to take a load,” Mr Richardson told ABCs business reporter Rebecca Hyam.

Mr Richardson said an expected pick-up in home building and retail spending should help, but the strong Australian dollar means manufacturing and tourism are likely to remain flat ::::

“We know that the interest rate sensitive sectors – things like home building in Australia and retail spending – they’ve had a tough time, but they will pick up,” he forecast.

“Where the question mark lies is whether the dollar-dependent sectors will do the same – manufacturing, tourism, international education – all of those have taking a pasting, given where the Australian dollar is.”

The report can be purchased online at: www.deloitteaccesseconomics.com.au/publications/

source: deloitte access economics

source: abc

One Comment on “Business Outlook Upbeat Globally, Soft Locally”

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