We see the economic conditions over the next 6 months to be a little bit mixed.
- What’s driving that outcome is the combination of a softness in the investment sector – both business investment, where we’re seeing a transition from the mining sector to the broader economy, – and a weakness now emerging within the housing sector, particularly investment in new dwelling construction. We’re seeing an overbuild in new apartments and once that tapers off, we should see a slowdown more generally within housing investment.
- The combination of those two factors will see economic growth for financial year 2017 dip a little. For this year we’re anticipating economic growth to be about 2.7 percent, but for next year we’re only anticipating that growth to be about 2.6 percent.