Latest forecasts from the Reserve Bank of Australia predict Australian economic growth to pick up pace in 2014.
The RBA has revised the economic growth forecast for 2014 from 2% - 3% to 2.25% - 3.25%.
With the investment in the mining sector expected to peak this year, strong activity in the non-mining sectors such as housing and retail will help accelerate the economic growth.
Low exchange rates are also expected to drive the retail and other trade sectors of the economy. Business conditions and consumer confidence have also improved in the last quarter of 2013. The low Australian dollar is also expected to increase exports.
The RBA also said that economic growth will gradually strengthen in 2014 and will further pick up pace in 2015-16. The low interest rates are helping establish a strong housing market which will be one of the key factors contributing to the economic growth.
Keep an eye on Accountant Jobs for the latest accounting related jobs, or follow us to stay up to date with our latest accounting blogs. Follow us on Facebook Follow us on Twitter Follow us on LinkedIn
You might also be interested in: