THE Australian economy is expected to grow at a below-trend pace of 2.75 per cent for most of 2015 because business investment is expected be weak throughout the year.
The Westpac/Melbourne Institute Leading Index, which indicates the
likely pace of economic activity three to nine months into the future,
only rose by 0.30 percentage points in January, and has been below trend
for the 12th consecutive month.
“We still believe that an interest-rate cut in March is the best
policy to support domestic demand and maintain downward pressure on the
Australian dollar and this outcome remains our forecast,” Westpac chief
economist Bill Evans said.
This news story is reprinted from www.theaustralian.com.au
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