Business
ASX bounds 1% higher to 6200 as gridlock rally rolls on – The Sydney Morning Herald
The ASX chased Wall Street higher on Friday as investors cheer the prospect a Biden White House will be blocked from tax, energy and regulatory reforms.
Today, the bank said it expects household consumption to fall by 5 per cent before jumping to 13 per cent by the June quarter next year.
Dwelling investment is now tipped to fall by 12 per cent although the bank is less optimistic over this sector for the next two years.
Unemployment is forecast to peak at 8 per cent this year before edging down to 6 per cent by the end of 2022.
Employment growth is now expected to be minus 3 per cent this year rather than the August forecast of minus 6 per cent.
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