Economy to remain ‘weak’

Despite positive news of an economic recovery, a leading economist has said the Australian economy will remain ‘weak’ for the next six months.

St George chief economist Besa Deda said Australia’s economy would remain stagnant for quite some time, with falling business investment and rising unemployment the major risks for the local economy.

“It will be a difficult period, particularly with business investment being pared back, said Deda.

“But around late this year, you should see some gradual improvement and that should continue into next year.”

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