Business Research & Insights

Global inflation was higher in July, although this uptick was not broad based – concentrated in a few key emerging markets. For Australia, our forecasts for GDP growth have strengthened marginally, reflecting a slightly stronger than expected result for Q2.

Rural businesses are looking for equipment funding solutions that meet their needs in an evolving environment. Article originally published in The Advisor on 20/09/23

Growth to remain subdued despite signs of resilience

The national Home Value Index rose 0.8% in August marking a sixth consecutive month in this growth phase.

Our monthly transaction data continues to suggest spending has been resilient, with July and August both showing fairly strong growth in consumer spending overall.

Employment index rises as resilience continues

Growth remained subdued in Q2.

NAB Online Retail Sales Index growth contracted in July.

From interest rates to inflation, employment to consumer spending, NAB Chief Economist Alan Oster shares where he sees Australia’s economy heading. Watch now.

Hopes have been raised of a soft landing for the global economy, although a number of headwinds remain. For Australia, our forecasts for GDP growth have strengthened marginally but we continue to expect growth to be well below trend in 2023 and 2024 as the impact of rate rises flows through.