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Commonwealth Bank of Australia says chance of Australian recession this year is 50%

CBA summary points of their forecasts:We forecast GDP growth to be 0.7%/yr at Q4 23 and 1.9%/yr at Q4 24. Broadly flat real household consumption over the remainder of 2023 sits at the heart of our forecasts for the economy to grow significantly below trend and be in a per-capita recession for the remainder of this year. We put the odds of a recession in 2023 at 50% as the lagged impact of the RBA’s rate increases continues to drain the cash flow of households that carry debt. We expect the annu... Read More

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Commonwealth

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Australia

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Australian

Recession

Forex

Posted: Jun 9 2023, 01:33

Author Name: forexlive

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