Australia: Economy to grow by 3% by Dec 2017 - Westpac

Analysts at Westpac explained that the Australian economy is forecast to grow by 3.0% in the year to December 2017, before moderating to a below trend 2.5% in the year to December 2018 as the home building boom turns down. 

Key Quotes:

"Early in 2017, the private business surveys report that business conditions have lifted, so too business confidence, mirroring global trends. Import volume growth has accelerated, a further sign of some improvement in domestic demand conditions."

"The upcoming updates on construction activity and business investment will provide a further guide to the current growth pulse. There are areas of weakness. Soft retail sales in the March quarter are concerning, highlighting the importance of labour market developments."