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1.Market Observations, 2.Economic forecasts, 8.Was Sticky

5 Sept 2019 (AFR) – More rate cuts needed after poor business investment, low growth

(5 September 2019, AFR, p8, Matthew Cranston, Economics correspondent)

‘Expectations are rising for further interest rate cuts after weaker consumption and poor business investment led to the slowest annual pace of economic growth since 2009 at 1.4 per cent. Held up only by surprisingly strong mining investment, higher government spending and record net exports, the economy grew at just 0.5 per cent in the June quarter. While in line with market expectations, the result was below the Reserve Bank’s revised forecast of 1.7 per cent updated only a month ago. That had economists forecasting rate cuts might need to be brought forward.’

Read more at AFR.com (might need AFR login, or try: AFR.com/trial)

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