Global We now forecast the global economy to expand by 3.0% in 2022 (down from 3.2% previously) before slowing to 2.5% in 2023 (was 2.9%). Several advanced economies are at heightened risk of recession. Tighter financial conditions and the fallout from the Ukraine-Russia conflict (including for European energy supply) are…
Housing market sentiment buoyed by growing rents as prices slow, but confidence slips as expectations for price growth scaled back. Early signs foreign buyers may be returning to the market, while interest rates weigh more heavily on local homebuyers. NAB’s outlook for dwelling prices is broadly unchanged – we still…
WELLBEING ROSE IN Q4 TO LEVELS LAST SEEN BEFORE THE PANDEMIC & HOUSEHOLD FINANCIAL STRESS REMAINS WELL BELOW THE SURVEY AVERAGE. AUSTRALIANS ARE TRYING TO SAVE BUT ARE BEING CHALLENGED BY DEBT REPAYMENTS, BILLS & EVERYDAY EXPENSES. 1 IN 5 MISSED A BILL OR LOAN PAYMENT IN Q4. The NAB…
Commercial property market sentiment is still negative but continuing the slow recovery from the COVID-induced downturn in mid-2020. The NAB Commercial Property Index lifted for the fourth straight quarter in Q2, but is still negative (-7 pts), after falling to -62 pts one year ago. It should be noted the…
The resurgence of COVID-19 in many parts of the world towards the end of 2020, as well as the re-introduction of mobility restrictions to bring it back under control, has had a negative impact on the global recovery. The Euro-zone economy went backwards in Q4, as did the UK’s in…
The recovery from the pandemic-driven recession is well underway across all states and territories, although COVID-19 outbreaks continue to disrupt state economies as they arise. Assuming a successful vaccination program and continued fiscal and monetary policy support, and despite all the considerable uncertainties, we are expecting a strong recovery over…
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