Please click the link below to view Shane Oliver's views on why recession is unlikely in Australia
Key points raised are :
- Australian growth is likely to remain weak over the next year. Expect further monetary and fiscal stimulus.
- However while the risks have gone up recession remains unlikely.
- Tax cuts should help growth in the current half year
- The threat from falling property prices has reduced
- Infrastructure spending is booming
- The low Australian dollar is helping growth
- The drag from falling mining investment is over
- The current account is in surplus
- There is scope for extra fiscal stimulus
- Population growth remains strong
- Cyclical spending is low