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asx finished,finito,goes to end, alles kaputt (Flight500)
Forum: ASX - General (Back)
Post: 282177 (Start of thread) Views: 61
Posted: 04/02/09 11:22 Sentiment: LT Buy Disclosure: Stock Held From: 122.105.xxx.xxx

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"The effect of the global recession on Australian economic growth is pervasive, with almost all sectors of the economy facing significant weakness over the forecast horizon," Wayne Swan said in his statement introducing yesterday's stimulus package.

Treasury is forecasting a 15.5per cent fall in business investment next year, as commercial property projects are cancelled and mining companies wind back their expansion projects.

Treasury is also pessimistic about consumer spending, forecasting a rise of only 0.5 per cent in 2009-10.

Macquarie Bank senior economist Brian Redican said this showed Treasury was much more downbeat about the prospects for recovery than most private economists. "Consumer spending is basically just above zero, despite the big falls in petrol prices and interest rates and these one-off payments. Treasury is being very cautious about the medium-term outlook."


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