Original article by David Uren
The Australian – Page: 6 : 18-Jan-16

A report by Deloitte Access Economics forecasts 1.2 per cent growth in Australia’s national income in 2016, which is the lowest rate of growth since 1960. Factors such as a downturn in export prices and cost-cutting in the corporate sector is dampening growth in incomes, which will in turn affect government revenue. Deloitte notes that lower growth in wages will eventually negatively affect economic growth. The firm expects the domestic economy to expand by just 2.2 per cent in 2016 and 2.1 per cent in 2017.

CORPORATES
DELOITTE ACCESS ECONOMICS PTY LTD, MORGAN STANLEY AND COMPANY INCORPORATED, JP MORGAN AND COMPANY INCORPORATED, CITIGROUP INCORPORATED, INTERNATIONAL MONETARY FUND, WAL-MART STORES INCORPORATED, UNITED STATES. FEDERAL RESERVE BOARD, STANDARD AND POOR’S ASX 200 INDEX, AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA