Australia headed for energy and rates shock recession
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Australian growth will be okay today, by all accounts. Forecasters have the December quarter coming in at 0.7-1.1% supported, largely, by, you guessed it, Albo’s rampant spending.
Despite a significant decline in public infrastructure work (-3.8% qtr), public investment increased 0.9% qtr in Q4.
Strength was centred at the federal level, where federal public corporations’ investment (6.1%qtr) and defence investment (7.1%qtr) both saw strong growth.
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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.