Growth Rate Steady at 3%

LATEST AUSTRALIAN BUSINESS NEWS

With official interest rates in Australia remaining at 5.5% for the foreseeable future, forecasters at the Reserve Bank of Australia (RBA) are now expecting the annual growth rate of the economy to be around 3%. This is considered by most commentators to be below par and therefore the most likely move in interest rates – will next be downwards.

The local jobs market is tightening with a drop off in job advertisements over the past 3 months. But interestingly, despite the fall in advertisements generally, there has been an increase in job ads placed on the internet. The increase in advertisements in January was 6% - well above expectations with total ads year to date being 30% higher than over the corresponding period 12 months ago.

For information on this article, or on any other aspect of the Australian economy or business opportunities available, please email me.

David

david.taylor@agarcarlyon.com