NAB’s World on Two Pages – June 2022
Global inflation remains high and showing no signs of easing, placing pressure on household finances. For Australia, we have lowered our GDP forecast for this year and next, upped our near-term inflation outlook and incorporated a new, front loaded rate track for the RBA.
NAB’s World on Two Pages – May 2022
We now expect the global economy to grow by around 3.4% in 2022 and 2023. For Australia, we continue to be optimistic on the economy expecting above-trend growth this year and ongoing strength in the labour market.
NAB’s World on Two Pages – April 2022
The global economic outlook remains clouded by numerous factors, however, we expect that the global economy will grow by 3.7% in 2022 and then slow to a trend- like 3.5% in 2023. For Australia, GDP is expected to grow by a strong 3.4% this year – supported by healthy growth in consumption and ongoing gains in business investment.
NAB’s World on Two Pages – March 2022
Globally, the conflict between Russia and Ukraine has caused a significant spike in energy prices – reflecting the importance of Russia in the production and export of oil, natural gas and coal, in combination with limited additional supply elsewhere. Locally, the war in Europe poses risks on both the activity and nominal sides of the economy, uncertainty is now highly elevated – but the central-case for Australia’s economy largely remains strong.