On the eve of last week’s Trucking Australia conference on the Sunshine Coast, HVIA organised for members attending the event to hear from well-known economist Michael Pascoe.
Michael’s presentation was well received, as he provided independent expert analysis on the macroeconomic conditions in Australia and the likely fallout, as the economy grapples with a historically high inflation rate and 10 interest rate rises by the Reserve Bank of Australia.
As manufacturers, one of the most interesting insights involved the level of business investment as a nominal share of GDP, which for two decades between 1995 – 2016 was above 12% but has languished in recent years, below this normal threshold.
Michael also provided the necessary context, touching on issues such as household debt, housing supply, wages growth, business confidence, and infrastructure projects, to explain some of the likely ramifications for industry and the broader Australian community.
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