CommSec have recently released their economic and financial issues report for January, provided by their Chief Economist Craig James.
In looking at the big picture, the Australian economy has not experienced a recession for 26 years (defined as two consecutive quarters of contraction). This is Australia’s longest ever economic expansion.
The Australian economy probably grew around 2 and a half percent in 2017, down from the decade average of 2.7 percent. The current annual economic growth rate is 2.8 percent.
If you’d like to read the full CommSec Economic Insights report click here.
If you’d like to speak with us with any questions about what this all means to you, please don’t hesitate to contact us.