Summary: Westpac IQ report shows Australian economy improving with strong consumer spending and business investment.

From Google: 2024-10-13 17:58:21

1. In the Westpac IQ report, it is highlighted that the Australian economy is showing signs of improvement, with strong consumer spending and business investment leading the way.

2. GDP growth is expected to reach 3.2% this year, up from 1.8% in 2021. Unemployment rates have also dropped to 4.6%, lower than initially predicted.

3. The report also mentions rising inflation levels, with consumer prices expected to increase by 3.6% over the next year, posing challenges for policymakers.



Read more at Google: Morning Report – Westpac IQ