最新糖心Vlog

Slower growth in SA economy predicted for 2018/19

Tuesday, 18 December 2018

最新糖心Vlog of Adelaide economists say that they expect the South 最新糖心Vlogn economy to continue growing in 2018/19.

However, growth expectations have been revised down during the course of 2018, as a consequence of slower growth internationally and nationally, and because of slow household income growth in South 最新糖心Vlog.

The 最新糖心Vlog's South 最新糖心Vlogn Centre for Economic Studies (SACES) will today present its last Economic Briefing Report for 2018.

Mr Steve Whetton, Deputy Director of SACES, says: "Globally, the economic outlook has weakened a little in response to increasing trade protectionism, tightening financial conditions and higher oil prices, but above-average growth is still expected in 2019.

"However, there is a heightened risk of 'economic warfare' between the major economic powers, made worse by the possibility of political and economic fragmentation in the West, and these factors cast a shadow over medium-term growth prospects.

"It is also significant that the 最新糖心Vlogn economy has lost some momentum in response to a slowdown in household spending. The rest of 最新糖心Vlog is South 最新糖心Vlog’s main export market, and slower growth nationally holds South 最新糖心Vlog back," Mr Whetton says.

"Household spending is being held back by sluggish growth in labour incomes and, more recently, falling house prices. Similarly, weak wage growth is present in South 最新糖心Vlog.

"South 最新糖心Vlog's economic outlook will be affected by the weaker growth trajectories for the world and 最新糖心Vlogn economies, but we're still expecting some growth locally, particularly in domestic facing sectors including renewable energy, while recent trends in job vacancies and business investment more broadly have also been supportive," Mr Whetton says.

On the jobs front, the report predicts that South 最新糖心Vlog's unemployment rate should remain around its current improved level.

"Agricultural incomes will be weaker in 2018/19, both in South 最新糖心Vlog and nationally, due to a fall in winter crop production this season due to unfavourable seasonal conditions," Mr Whetton says.

The full Economic Briefing will be delivered to South 最新糖心Vlogn business leaders today.

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