* Nearly 70 per cent of people who died from coronavirus in Australia had pre-existing conditions such as hypertension, dementia and diabetes. In 2021-22, the national unemployment rate is forecast to fall 0.98 percentage points, to 6.72%. We thought you might enjoy this selection of our most popular articles over the last year. The risk is that support measures may need to be left in place longer and/or that new measures need to be applied. In its June update on the world economic outlook, the IMF forecasts Australia's economy will shrink by 4.5 per cent in 2020 and grow by four per cent in 2021. To date, Australia has been travelling well on this path. Meanwhile, countries with larger recession gaps, such as Canada (-6.6%), Singapore (-6.8%), and the UK (-9.2%), will remain in the mechanical phase of the cycle for a more extended period and will likely experience stronger growth rates next year. Fiscal and monetary policy have been working in unison to support businesses and economies. How will the Pfizer COVID vaccine be distributed in the US? You can trust the team at Metropole to provide you with direction, guidance and results. Optimism is returning and the outlook is positive for the Australian M&A market in 2021 after a COVID-induced crash in deal activity in 2020, according to Corrs Chambers Westgarth's tenth M&A 2021 Outlook report. And it says once those economic supports are withdrawn, they should be replaced with broader spending on climate change action and social safety nets. An encouraging forecast – by global standards In challenging times like we are currently experiencing you need an advisor who takes a holistic approach to your wealth creation and that’s what you exactly what you get from the multi award winning team at Metropole. Even though employment and economic activity are anticipated to slowly recover over the five years to 2025, IBISWorld expects consumer confidence to fluctuate since the long-term consequences of the pandemic remain unknow. * JUNE 26 - Tasmania to shift to stage three restrictions, lifting indoor and outdoor gathering limits but keeping homes to 20 visits. If you’re looking at buying your next home or investment property here’s 4 ways we can help you: Subscribe & don’t miss a single episode of Michael Yardney’s podcast. Economic Outlook for 2021 Kanlaya Barr, John Deere Joseph Cooper, US Department of Agriculture Jeff Wrase, US Senate Finance Committee Thank you to our sponsors! The Morrison government is considering what to do after its JobKeeper wage subsidies and doubled JobSeeker unemployment payment end in September. Michael Dell’s 2021 Economic Outlook And Top 6 Tech Drivers. Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. The global outlook is discussed in more detail in the ‘International Economic Conditions’ chapter. Former advisor will have 'last laugh' in DC lawsuit as she has MILLIONS of docs that prove first lady was well aware of inflated inauguration expenses, Senate votes through Defense Act with huge majority and dares Trump to veto move to raise troops' pay and strip Confederate names from based, Donald Trump is 'desperate to avoid justice' E.Jean Carroll's lawyer tells judge as president tries to stall libel case over her rape claim. The bank has also revised its predicted unemployment rate to a peak of 10 per cent in December 2020. We are no longer accepting comments on this article. - Fitch forecasts an average iron ore price of USD75/tonne in 2020 and USD60 in 2021 (62% Fe CFR China reference). Featuring topics like property investment, property development (helping you understand the process), negative gearing and finance (so you can borrow more from the banks), property tax (allowing you to structure for legal tax deductions and asset protections), negotiation, property management (assisting landlords and tenants understand their right responsibilities), commercial property (for experienced property investment individuals), personal development and the psychology of property investment success. * The AFL is set to announce Perth as the next hub on Thursday, with Collingwood and Geelong to join West Coast and Fremantle for a block of games at Optus Stadium. The key factor is how well states, territories and countries manage to suppress the virus. Economic growth is projected to recover 4 per cent in 2021. In its latest Economic Outlook, the Organisation for Economic Cooperation and Development also urges Australia not to withdraw its fiscal and monetary policy support until the economic recovery is "well entrenched". But, notwithstanding issues in Victoria, Australia generally is in good shape compared with other countries. A recovery in household spending and fixed investment, supportive fiscal and monetary policy measures, and the gradual reopening of the global economy should fuel the … This page has economic forecasts for Australia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Australia economy. * JULY 20 - SA to open its borders to NSW, VIC and the ACT. Economic growth is projected to recover 4 per cent in 2021. The outlook for Australia’s economy according to the RBA. 7/11/2020. We noted a shift toward policy-driven market regimes in our outlook last year, and the Covid pandemic has … The downside scenario assumes infection rates continue to escalate around the world and Australia faces a series of outbreaks and tight restrictions, which would see the jobless rate remain close to its peak throughout 2021. One year ago, if we were told the following 12 months would witness the worst global pandemic since 1918, precipitating the greatest global So interest rates will remain at current levels through to 2022. There is considerable uncertainty regarding the possible duration and severity of the outbreak, and the effect it will have on economic activity may be larger than currently projected. Subscribe now, whether you're on an Apple or Android handset. * The national death toll is 103: NSW 50, Victoria 20, Tasmania 13, WA 9, Queensland 6, SA 4, ACT 3. Philip Lowe told parliament earlier Wednesday that the central bank is weighing a variety of scenarios for the economic outlook … The CommSec report explained that our economic recovery is expected to be more protracted. ... has dealt Australia a severe economic and fiscal ... cent this year and then by another 7.2 per cent in 2021. The biggest profit potential is Australia's #smallcap stocks. Rather than rebounding at a 7 per cent annual pace in the year to June next year, the lift is expected to be more like 4 per cent. The Outlook forecasts that Australia’s economy will shrink 2.25 per cent in 2020/21. We forecast a 20% to 30% rise in Australia's stock index. His opinions are regularly featured in the media. Economic and fiscal outlook. This page has economic forecasts for Austria including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Austria economy. Despite the impact of lockdown on many Australian businesses, including the One Nail Salon in Geelong, Victoria, the economy is expected to bounce back in 2021. World Economic Outlook, April 2019: Growth Slowdown, Precarious Recovery April 2, 2019 Description: After strong growth in 2017 and early 2018, global economic activity slowed notably in the second half of last year, reflecting a confluence of factors affecting major economies. The RBA’s central scenario sees GDP contract by 4% in 2020 and to rise by 2% in 2021 and 4% in 2022. Obviously this is not good for our economy in the short term – it may knock $12Billion off our economy in the September quarter, meaning previous economic forecasts now need to be revisited. 13 Common Mistakes Home Buyers Make – and how to avoid them, NAB forecasts a strong economic and property rebound for 2021. Here’s how to avoid these 12 common reasons property investors fail to build a Multi Million Dollar Property Portfolio. Read more here >> Click To Tweet * July 18 - WA to lift all remaining virus restrictions except border closures. Click here to learn more about we can help you. Australia Economic Growth The economy is projected to return to growth in 2021, following this year’s pronounced contraction. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. It expects the unwinding of strong fiscal support will be a headwind for economic growth in the second half of 2021 … Treasurer Josh Frydenberg has leapt on a new report upgrading Australia's economic growth outlook, saying the government's recovery plan is working. In their SoMP the RBA revised their growth forecasts down a little and revised their unemployment forecasts up a little to 10%. Clearly the economic future is more uncertain than usual. Following the positive news on a COVID-19 vaccine, the risks to our economic outlook are more balanced. * Australian Defence Force personnel are to be sent to Melbourne to help while Victoria has ramped up testing to 20,000 people per day. That said, in recent days the Bank has returned to the bond market, purchasing short-dated government bonds as part of its Yield Curve Control strategy. IMF economic counsellor Gita Gopinath puts the deterioration down to worse-than-anticipated outcomes in the first half of the year and more persistent social distancing measures in the back end.

December 2020

For our suite of reports, please scroll down to ‘Global Unemployment is still tipped to top out near 10 per cent – but later this year, rather than earlier. These four charts illustrate how the global economy and insurance markets are projected to fare in 2021. * JUNE 27 - WA to lift all gathering and venue patron limits but a two square metre rule will remain. Although economic growth is forecast to drop by 2.7 per cent in the current financial year, according to a report by IBISWorld, factors such as pent up demand in industries such as tourism, hospitality and retail is expected to create strong economic growth in the 2021/2022 financial year, with GDP predicted to rise by 4.7 per cent. In its June update on the world economic outlook, the IMF forecasts Australia's economy will shrink by 4.5 per cent in 2020 and grow by four per cent in 2021. * Victoria has recorded 20 new cases on Wednesday, 10 in NSW - excluding one previously reported case. The RBA has upgraded their assessment of the Australian economic outlook. For recovering economies like Australia, the IMF advised emergency government support such … Businesses are hoping an easing of restrictions including the recent reopening of pubs will allow the economy  to bounce back as quickly as possible. Although some states and territories have re-opened their borders, the government will push to re-open inter-state borders fully in 2021 in order to support the economy. However, the organization downgraded its outlook for 2021. At the 2019-20 MYEFO, the underlying cash balance for 2020-21 was forecast to be a surplus of $6.1 billion (0.3 per cent of GDP). Now is the time to take action and set yourself for the opportunities that will present themselves as the market moves on, Copyright © Michael Yardney’s Property Investment Update. Treasurer Josh Frydenberg has leapt on a new report upgrading Australia's economic growth outlook, saying the government's recovery plan is working. 'Given the tremendous uncertainty, policymakers should remain vigilant and policies will need to adapt as the situation evolves,' Dr Gopinath said. GOVERNMENT revenue is expected to reach RM236.9 billion, or 15.1 per cent of gross domestic product (GDP), next year, according to the Economic Outlook 2021. contains their detailed forecasts on the economy. 2021 Economic Outlook: Policy Takes the Reins. Visit Metropole.com.au. But given weaker economic resilience, we forecast a protracted recovery to 4.7% global growth in 2021 after a 4.1% contraction this year. The Australian economy is expected to record a contraction in GDP of around 10 per cent over the first half of 2020; total hours worked are expected to decline by around 20 per cent and the unemployment rate is forecast … Measures to contain the spread of COVID-19 continue to affect demand for Australia's agricultural commodities. Australia’s economic policy choices are constrained by the economic policy choices of larger powers, its economic growth trajectory constrained by their degraded growth trajectory, and its international engagement constrained by the increasingly combative relationship between the two biggest national economies — the United States and China. * JULY 1 - NSW resumes community sport and will scrap a 50-person cap on indoor venues. Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best Around $330 billion (16.2 per cent of GDP) has been outlaid by federal, state and territory governments to support the economy. 1.10– 1.20 pm Questions and answers Alan Oster facilitated by Han Michel 1:20 – 1:30 pm Vote of thanks to the speaker on behalf of the sponsor Alex Hofmann, Business Manager, BASF Australia Here’s part of what the report explained: Economic forecasting is always fraught with difficulties and that is even more the case in the current environment. The Paris-based institution is also forecasting the Australian economy will grow by 3.2 per cent and 3.1 per cent in 2021 and 2022 respectively. The World Economic Outlook, released this morning, predicts Australia to grow at 1.7 per cent in 2019, down from a predicted 2.1 per cent. The latest economic outlook from the ... in the new year to grow by 3.2% in 2021 … Data current as of 1730 AEST June 24, taking in federal government and state/territory government updates, the Johns Hopkins virus tracker and Worldometer. As a result, these countries are likely to experience slower economic growth in 2021 as they converge more quickly to a more normal GDP growth trend. For Reg AC certification and other important disclosures, see the Disclosure Given that uncertainty the RBA has been publishing three scenarios for the economy: a baseline central view, an upside and a downside. But it forecasts the world economy to snap back with 4.2% growth in 2021. Should it need to, the Reserve Bank could purchase longer-dated maturities or state government (semi-government) – especially Treasury Corporation of Victorian (TCV) – bonds to keep borrowing costs low as governments issue more debt to fund stimulus spending. Reserve Bank of Australia Gov. We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android Bottom-line  is  that  the  RBA  Board  believes  that  current monetary policy measures are sufficient. - The global economy performs in line with Fitch's 22 April 2020 Global Economic Outlook, particularly China, which is a key destination for Australian exports. The forecast for unemployment and broader economic activity is dependent on the discovery and availability of a COVID-19 vaccine. This would leave the Australian economy broadly flat over the 2020–21 period. Overall, the IMF is now projecting a deeper global recession, shrinking by 4.9 per cent this year, and slower recovery than it did in April. It's up to states and territories to determine when to ease them. The coronavirus outbreak is a significant near-term risk to the economic outlook for China and Australia's other key trading partners in Asia. State by State Update on the Australian Property Markets, This weekend's auction results - Strong clearance rates continue confirming our market strength, This month's Australian Housing Market Update | PROPERTY INSIDERS VIDEO, Know your rights when you have a fence war with your neighbours, Your complete guide to easements on property. According to the International Monetary Fund (IMF), Australia’s GDP will perform better in 2020 than was feared just two months ago. This is a 2.2-point improvement on its April outlook. Apart from ‘helicopter’ money drops, reliance will be firmly focussed on fiscal stimulus. Like many other open economies, Australia … Interestingly the RBA indicated that the Board considered whether other measures should be considered to support the economy – notably intervening in foreign exchange markets to drive the Aussie dollar lower, and moving to negative interest rates. * Meanwhile, Coles and Wooloworths have been forced to reinstate purchasing limits on essential items, including toilet paper, amid renewed panic buying. The five genes that make you more likely to die from coronavirus or be admitted to intensive care, 15% of Americans have been infected with COVID-19: Death toll is predicted to surpass half a million by April with daily fatalities peaking in mid-January - as US sets another grim record-breaking day of 232k new cases and 108k hospitalizations, Man, 21, is arrested and charged with murder 'for randomly shooting dead COVID nurse, 26,' as she drove to work in Nashville, California revolt: Sheriffs overseeing 40% of state's population REFUSE to enforce Governor Newsom's pandemic orders after he flip-flopped on whether people should be allowed to go to the beach, Pandemic pushes homelessness in New York City to record levels with more than 20,000 adults in shelters and hundreds sleeping on the streets, Revealed: Sidney Powell's secret witness 'Spyder' is an IT consultant and former mechanic who has NEVER worked in military intelligence, Cheer star Jerry Harris is indicted on seven new charges of child pornography and sex, involving four minors, REVEALED: Second federal probe was launched into Hunter Biden in Pittsburgh after Rudy Giuliani handed material to 'Trump loyalist' Scott Brady - sparking concerns among the FBI, Joe Biden says 'I'm proud of my son' as he is asked if Hunter 'committed a crime' after revelation of federal probe into his Chinese business millions, 'It's my worst nightmare': Singer FKA twigs breaks her silence after suing ex Shia LaBeouf for sexual battery, assault and emotional distress and says 'I never thought something like this would happen to me', Allison Mack of the NXIVM sex cult has filed for divorce from wife of three years Nicki Clyne as she awaits sentencing for racketeering charges, PICTURED: Wisconsin-based military pilot and father-of-two, 37, who was killed after crashing his F-16 fighter jet during routine training mission in Michigan forest, Republicans rage! (Two Qld residents who died in NSW have been included in the official tolls of both states). The IMF says a gradual exit from targeted fiscal support is vital 'to avoid precipitating sudden income losses and bankruptcies just as the economy is beginning to regain its footing'. All you need to know about becoming rich by better managing your personal finances. * Two thirds of businesses have collected less revenue than this time last year due to coronavirus restrictions, new ABS data shows. How much, on average, does it cost to build a house? * Australia has maintained its AAA debt issuer credit rating with the big three global ratings agencies. Restrictions including the recent reopening of pubs will allow the economy will remain and website in browser! 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