Economist predicts we will dodge big recession

Bis Shrapnel economist Frank Gelber stated that Australia would avoid a major economic recession that will be experienced overseas.

He further added that Australia will have a downturn, which will not rebound quickly, and that we still need to see the fall in investment again the result of the credit squeeze, feeding through to the rest of the economy.

Overseas there is a fully-fledged financial crisis, and major recessions in the developed world.

He further stated that in Australia we didn't have anything like the depth of downturn and that we hadn't gone over the top of investment.

Published on March 3-th, 2009 in Financial Planning
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.

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