Australia to flirt with recession this year, warns NAB

abc.net.au/news/australia-to-flirt-with-recession-this-year-warns-nab/102002938National Australia Bank has delivered a sobering assessment of how it expects the economy to perform this year.NAB is expecting economic growth to slow to 0.7 per cent over 2023 and 0.9 per cent in 2024The construction sector is likely to hold up until its pipeline of existing work runs out at the end of this year

Economists warn households will need to absorb a period of both high inflation and rising interest rates, until inflation eventually subsides. "On GDP, we see the quarterly rate of growth slowing to around 0.1 per cent in mid-to-late 2023," the team noted.A recession is commonly defined as two consecutive quarters of negative economic growth, so a forecast of quarterly growth of just 0.1 per cent for the back half of this year indicates that NAB sees a reasonable risk of an economic contraction before year's end.

That relies though, in the NAB's view, on the Reserve Bank easing monetary policy, or cutting interest rates, early next year.

That’s a romantic twist on a financial disaster for most Australians caused by scomos failure.

Abc hopefully will flirt with insignificance…

NAB AlboMP SkyNewsAust NAB will see to it they are relentlessly trying to grab our homes , offer NO assistance in interest rates other than appeals to a tribunal.

Stagnant growth how u doin bb

Iron ore, gas and coal will make the numbers look good but average people will be suffering

Just platforming the guys pushing for austerity. Thanks for nothing

Fear porn

This is my pet Cat, it’s called Jumbo

Flirt? In today's hookup culture? Is the recession dtf or not?

Wie once had Laws to protect Renters, now what happened to them, now People have to make an offer !!!

flirt gerund or present participle: flirting behave as though sexually attracted to someone, but playfully rather than with serious intentions.

Just do it, crash the economy, take no survivors. Interest rates to 20% and we should be able to correct this mess.

Flirt with it? What in hope that it wants to get down?

Shhhh Don't tell.... It's already happening.. It's just no one wants to speak about it.. But this one only effects the working poor and poor. So you better off not writing or speaking of it. As all of you, YES You, you pay your bill and eat while living in your home. Check out..

Flirt?

Construction slowdown might be good news for people looking to get maintenance work done but can't find workers?

the flirt is todays word...........use it with caution

ABC why do you block people from commenting on your FB posts. Do you do the same on twitter. Aren't all taxpayers who fund you entitled to their say?

would they be the same economists who were screaming for the RBA to lift the overnight cash rate? Surely not. Must be an entirely different mob!

Chase me!

I thought recession was coupled up with someone? Australia you flirt.

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