Slow growth more likely than double dip: AMP
A double dip recession remains a danger for investors but is likely to be avoided, according to AMP’s chief economist, Shane Oliver.
Oliver told an Australian Institute of Superannuation Trustees conference today that the underlying fundamentals were strong enough to avoid a double dip.
However he warned that growth would be slow.
Oliver also discounted the threat to the Australian economy posed by a minority government saying he believed it was strong enough to keep moving forward.
He said there was likely to be decent growth but well short of a boom and therefore, little likelihood of further significant increases in interest rates.
Oliver said this represented good news for shares.
He said the price of Australian shares were low when compared to profit while commercial property appeared to have bottomed.
AUTHOR
Mike Taylor
Recommended for you
With candidate retention a concern after a professional year, two large licensees have shared how they are structuring their programs to successfully ensure candidates are keen to remain beyond the year.
Evidentia Private has appointed PIMCO’s Haydn Scott as principal for private wealth solutions, focusing on asset consulting and private markets.
Financial advisers have been urged to consider the role they are using AT1 hybrids for in client portfolios when it comes to deciding on a suitable fixed income replacement, particularly for their retiree clients.
Private wealth manager Escala Partners has shared the difficult conversations that advisers need to have with their clients as strong sharemarkets prompt a portfolio rebalance.
