Poor old McGoo, does it again it. From Goldman:
Overall, the late-2024 pick-up in Australian economic momentum looks to have faltered in 1Q2025, raising downside risks to the RBA’s (recently downgraded) forecast consumer recovery.
Looking ahead, a substantial RBA easing cycle will be required to spur a sustainable growth into private demand in our view, given the budgeted slowing in spending on aged care and the NDIS will continue to erode the tailwind to growth from the public sector.
