Outside of the mining industry, the high Australian dollar and post-GFC doldrums are holding back the rest of the economy. At the same time, the slow European-train wreck and political paralysis here in Australia continue to undermine consumer and business confidence. How long will households and businesses be focused on deleveraging? What will it take to kick-start the non-mining economy? When is that likely to occur? What will drive the next upswing and how long will it last? Are we destined to be more and more dependent on mining? Will the ageing population put a handbrake on activity or will the long-awaited boost to productivity growth come through? Is Australia being set up for another infrastructure log jam? How are household spending patterns expected to change as the population grows older? What are the risks that matter the most?
These questions and more are addressed in the Long Term Forecast 2012-2027 report. The report examines the outlook for the global economy, Australia’s population and economic growth, employment, investment levels and their sustainability, and for key industries – with annual forecasts for the next five years and two five year average forecasts thereafter. Our independent assessment and respected forecasts of the timing, nature and strength of the next cycle, shifts in financial conditions and risks surrounding the outlook are essential inputs for annual budgeting, strategy formulation and mid to long term business planning.