The financial year has come to an end and it is but fitting that we provide you with predictions from top economists on what to expect for the year ahead.
Sharemarket predictions. NAB Chief economist Alan Oster expects sharemarket success to continue after ending the financial year up by 12%. He is predicting a 10% increase, citing the relatively weak domestic demand as a factor.
Consumer predictions. With major non – mining sectors still in the recovery phase, ANZ chief economist Warren Hogan believes that additional investments and jobs will trigger increased consumer confidence. He also points out that despite the numerous challenges, the economy has performed impressively.
Property predictions. New homes have provided the property market a much needed boost, as residential construction numbers have increased to accommodate the growing population, according to Harley Dale, chief economist of the HIA.
Interest Rate predictions. The Reserve Bank has been firm in its decision to keep the interest rates on hold and majority of economists predict that this will continue for the next 12 months. They are also confident that interest rates will stay on hold or at least experience a modest increase in the coming year.
Australian Dollar predictions. Economists agree that this is the most uncertain aspect of the economy for the coming financial year, as it is higher than expected.
Read more about this on the Property Observer website.
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