Australians and businesses overwhelmingly think our country is a great place to live and have a business. However, Australian consumers and businesses are anxious about what the future holds.

Business surveys and measures tracking the volume of activity suggest that the global economic upturn lifted a notch toward the end of last year and that trend seems to have continued into early 2017.

New data released by NAB today indicates that spending on consumption-based goods and services by NAB customers grew 3.1% over the year to Q4 2016.

Low-tier SMEs’ business conditions now comparable to that of their mid-tier and high-tier counterparts

NAB Economics changes cash rate view to one 25bp cut in late 2017.

Stronger near-term momentum will keep RBA on hold, but 2018 still a worry.

Get the latest monthly update on housing market conditions around Australia.

The RBI, somewhat surprisingly, maintained the policy repo rate at 6.25%. Uncertainty about the effects of demonetisation and sticky core inflation were factors.

The strength witnessed in last month’s NAB Monthly Business Survey continued into January, with both business conditions and confidence jumping to much higher levels.

The Australian budget in the first six months of this financial year is tracking a little higher, but not significantly worse than recent budget forecasts

The US economy continues along the same moderate growth path it has experienced in its recovery from the Global Financial Crisis.

From a political perspective, President Trump’s decision to withdraw from the TPP reflected US sentiment against globalisation, particularly in the mid-west rust belt.

Business confidence was down slightly, but has been remarkably steady for a long period given the context of global and political uncertainty.

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