The Q4 National accounts are hot off the presses, showing 0.5% of economic growth in Q4 2019, higher than analyst predictions. However, if you look below the surface, it’s far from all roses for the Australian economy. If you exclude net exports, Australia’s economic growth was lower than population growth.
Topics include why we forecast Australia’s first recession in 29 nears occurring in Q1&Q2 of 2020, weak private sector growth in 2019, GDP being propped-up by NDIS & NBN which are set to roll off by June 2020, stagnating household income, what the external Coronavirus shock will do to the Australian housing market and wider economy, and as always our investment outlook, including how we’re allocating assets during these turbulent times.
In today’s webinar, hear from Nucleus Wealth’s Head of Investment Damien Klassen, Chief Economist Leith van Onselen and Head of Operations Tim Fuller, as they cover “Australian Economy: Calm before the storm.”
Slides referenced throughout the episode
If this episode sounds of interest to you, watch in the YouTube player below or in podcast form here (links are featured at the bottom right of the player if you wish to listen on your preferred platform).