Okay, so it's not exactly a difficult forecast to make. What will perhaps be more interesting is the Q1 GDP, the revisions to Q4 and Q3 GDP from last year, and this Thursday's unemployment rate (currently at a historically low 5.2%). With the Aussie dollar sliding, or at best moving sideways, you can also kiss good-bye to a lot of that all-important tradeables deflation. Anyway, here is my buddy Wayne Swan in the AFR today:
The budget tonight will forecast growth around trend over the next two years, with real gross domestic product growing by 3.25 per cent in 2012-13 and 3 per cent in 2013-14.
The retail trade figures yesterday are also encouraging, showing the largest increase in quarterly retail volumes in nearly three years.
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