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ANZ Research - Turn the Beat Around
When we take a look at what has been driving GDP growth over recent years, we are left with the clear impression that the economy will require a reasonable lift in productivity performance if recent GDP growth rates are to be maintained. It is entirely possible that will occur, but it is hard to have strong conviction, given weak productivity trends both here and abroad. It doesn’t mean we are bearish on the domestic growth outlook, but we do see a more modest pace of growth occurring going forward, lower than official projections. In data this week, the QSBO is likely to show a hit to sentiment, but perhaps not as ... (full story)