Oliver’s Insights – The Lucky Country Holding Up Pretty Well

In his latest article, Dr. Shane Oliver discusses the performance of Australia’s economy in 2015, and how AMP expects Australia to perform in the year ahead.

The economy grew 3% over 2015 as non-mining activity and export volumes helped offset the slump in mining investments.

Growth is likely to slip back to 2.5% this year, so a further RBA rate cut is still likely, albeit it’s a close call.

Low interest rates, low petrol prices, the boost from the low $A, the improved performance of “low mining” states like NSW and Victoria and the likelihood that the slump in mining investment is getting close to the bottom are reasons not to get too gloomy on Australia and Australian assets.

Posted in Latest News.