13 Nov 2013
Flash: Outlook on the Australian economy - NAB
FXstreet.com (Barcelona) - According to NAB Economists, Australia's GDP projections are broadly unchanged this month.
Key Quotes
"GDP growth to soften to 2.3% in 2013 before gradually rising to 2.4% in 2014 and 2.9% in 2015. Unemployment to nudge 6% by end 2013, a touch above 6½% by end 2014, before easing to 6.3% by late 2015."
"Given the soft outlook, core CPI is expected to edge down to 2.3% by end 2013 and 2.4% by end 2014. Rising asset price trends and higher confidence likely to see RBA wait to see how labour market trends play out before cutting cash rate again."
"We expect next rate cut in May (was February), by which time labour market conditions are likely to have deteriorated sufficiently to prompt further policy easing. Unemployment will be the key to the timing and extent of further cut(s)."
Key Quotes
"GDP growth to soften to 2.3% in 2013 before gradually rising to 2.4% in 2014 and 2.9% in 2015. Unemployment to nudge 6% by end 2013, a touch above 6½% by end 2014, before easing to 6.3% by late 2015."
"Given the soft outlook, core CPI is expected to edge down to 2.3% by end 2013 and 2.4% by end 2014. Rising asset price trends and higher confidence likely to see RBA wait to see how labour market trends play out before cutting cash rate again."
"We expect next rate cut in May (was February), by which time labour market conditions are likely to have deteriorated sufficiently to prompt further policy easing. Unemployment will be the key to the timing and extent of further cut(s)."