State governments buy a year of capex growth for $50bn

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Via Deloitte:

Business investment looks to have been the hardest hit part of the Australian economy in 2020. The effects will linger over 2021 and 2022 – but the outlook has also improved.

Releasing the latest edition of Deloitte Access Economics’ quarterly Investment Monitor, Deloitte Access Economics partner and report lead author, Stephen Smith, said: “Local COVID-19 numbers remain small compared to other countries, the vaccine rollout is expected to start shortly, business confidence has improved, and the Reserve Bank has promised to keep interest rates at low levels for at least the next three years.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.