Report Published: "Australia Shipping Report Q4 2013"
In line with BMI's expectations for the Australian economy to struggle in 2013, real GDP growth in Q1 2013 slowed to 2.2% quarter-on-quarter (q-o-q) in seasonally-adjusted annualised terms, compared to 2.3% in Q4 2012. We expect the slowdown in private consumption to be the main drag on growth in the coming quarters, as job losses rise on the back of businesses cutting costs, triggering the beginning of household debt deleveraging. Together with our expectations for tepid export growth, we maintain...
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