Experts see rosy future

AUSTRALIA is set to do it again.

BusinessDay's half-yearly economic survey has found our private sector economists believe the country will grind its way through the 2012-13 financial year to record solid growth, despite risks of Europe's problems deadening the world economy.

Our economists see Australia broadly continuing along its present path, dodging any significant fallout from the eurozone crisis, but divided into two economies travelling at very different speeds. Unemployment will grow.

The panel is hopeful, though far from certain, that the biggest threat to global growth - the potential breakup of the eurozone - will be averted, or failing that, managed in a way that avoids sparking what Monash University's Jakob Madsen terms ''irrational investor behaviour''.

Whether Greece remains in the euro or not, most of the panel expects Australia to be largely unaffected by Europe's crisis. Any impact will be swamped by the strength of the mining construction boom, and continued demand for minerals from China and India.

Read more at Brisbanetimes.com.au
 



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