Recent Australian GDP figures for the third quarter were “very weak”, ANZ chief economist Richard Yetsenga concedes but he maintains his belief growth in 2017 will be close to 3 per cent.
"We still see the Australian economy growing above trend."
Richard Yetsenga, ANZ chief economist
“Yes, growth is a tad weaker in an accounting sense,” he told BlueNotes on video. “Broadly, we still see the Australian economy growing above trend.”
“That contrasts a little with the regional picture where, for most of the small economies, we expect you’ll see some growth acceleration next year – but not a lot, because the [US Federal Reserve] is hiking and China is slowing a little bit.”