Australian economic growth for the first quarter was better than most economists expected but still remained sluggish, says AICD Chief Economist Stephen Walters MAICD in the latest quarterly economic update.
- Growth in Australia’s economy slowed in Q1, but was better than economists had expected
- Annual growth, however, now is the weakest since 2009 … a period immediately following the GFC
- Poor weather held back export volumes last quarter, but business investment rose
- The output dynamics may have been underwhelming in Q1, but the income metrics were better
- The terms of trade, for example, rose again, driving another lift in national living standards
- The official policy levers are constrained, but elevated AUD has scope to weaken
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