In this talk, I will make some observations about the global and domestic economies, and try to give some sense of what we have learned in the past couple of years. The global economy Two years ago, we judged Australia’s trading partner group to be growing at about its average pace of around 4 per cent.
It was expected that during 2014 and 2015 growth in this group would pick up a bit, to a pace a little above average. In fact, growth for our trading partners has remained at about 4 per cent and is expected to stay there over the next couple of years.