The early evidence suggests that businesses and households in Australia have not been ruffled by the UK’s vote to leave the EU and Australia’s close Federal election result. Admittedly, consumer confidence did fall in July. But that decline was small and probably had more to do with the unwinding of the boost from May’s interest rate cut. And the survey of business confidence by NAB, which was conducted after the UK’s vote, actually rose in June. Although we are less optimistic than most on the outlook for the economy, that’s not because of recent events in Europe.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services