The Australian economy has faltered in the past year. The Reserve Bank's forecasts have consistently proved to be too optimistic.
Demand is weaker than expected, particularly consumer spending. Private investment continues to languish. Wages and inflation are lower than forecast. Unemployment is trending higher. Job vacancies are falling.
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Andrew Mohl was a senior economist at the RBA and group chief economist at ANZ Bank, before becoming CEO of AMP and an independent non-executive director of Commonwealth Bank.
