Roubini Global Economics, founded by renowned US economist Nouriel 'Dr Doom' Roubini, says slowing Chinese growth will hit commodity prices and Australian...
Roubini Global Economics, founded by renowned US economist Nouriel 'Dr Doom' Roubini, says slowing Chinese growth will hit commodity prices and Australian export volumes, while domestic consumer and investment weakness will continue to drag on the country's gross domestic product. The Roubini report describes the federal government's fiscal austerity as poorly timed and sees GDP growth slowing from just below 3% to below 2% for 2015, after ending this year at 2.9%. Roubini's local analyst David Nowakowski said, we see lower Chinese growth in 2015 as a headwind that will weaken Australia's growth and inflation next year, and weigh on growth-orientated assets such as equities and the Australian dollar. Mr Nowakowski said flagging growth and low inflation would create room for the Reserve Bank of Australia to make a cut or two in interest rates, to 2%. Full article: (VIEW LINK)
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