According to Chris Richardson, a researcher at Deloitte Access Economics, the Australian economy is largely immune to the Sino-US trade war. The Australian Bureau of Statistics will release economic data for the previous quarter in June. Economists predict that Australia’s GDP growth will slow. Chris Richardson told Skynews’s show host that consumers are still reluctant to spend money on spending due to falling house prices in major Australian cities.
He said, however, Australia is still a very lucky country. Demand for bulk commodities exported overseas to Australia remains high. This also shows from another angle that the Australian economy has shaken off the Sino-US trade war and the global economic instability caused by the Brexit negotiations.
