Things are looking good for the Australian economy with rising growth expected to continue for years.
The Deputy Governor of the Reserve Bank, Ric Battellino predicted that Australia’s trade with the Asian economy would help keep Australia’s economy on sound footing in year to come. In addition to continued growth, it is expected that rapid population growth and rising household incomes would support rising house prices.
A copy of his speech can be found here.
This will almost definitely lead to a rise in interest rates next month.
This is a very bullish report on the future of the Australian economy, especially after the Global Financial Crisis only last year which threatened another Great Depression. It would appear that we have now left those negative thoughts behind us and can look forward to another new “Golden Era of Growth“.
The next question for business owners to address is how they will capitalise on increased demand and new opportunities. A rapid change in mentality may be required as businesses go from contraction/ stabilisation to expansion.
Are you seeing an increase in business yet? I would love to hear your comments.