We were delighted to be joined at our latest economic event by Felicity Emmett, one of Australia’s leading economists on global and domestic matters. As a Melbourne-based economist Felicity is well-placed to give insight, not only on the situation in Australia but, more specifically, the outlook for the Victorian economy, following strict lock-down measures.
Click below to view our extended highlights video from the event or keep reading for our key event outtakes….
Five key highlights from the event…
- GDP is anticipated to return to normal rates by 2022, with some modest growth expected in 2021.
- There are signs of improvement indicated by business confidence. Figures to be released by ABS this month on anticipated business spending will likely paint a good picture.
- The housing market has been more resilient than expected (even in Victoria), with annual growth potentially reaching 15%. This encourages consumer confidence in homeowners, helping to stimulate spending.
- We have seen a surge in spending in Victoria since doors have opened to businesses and homes. This is a quicker bounce-back than previously anticipated, showing that people are very willing to get back out into public spaces with the lifting of restrictions.
- From Moir’s perspective, there is an encouraging demand for new staff in the Melbourne market, with a number of exciting new roles on offer (and more to come).
Poll results: An optimistic outlook
During the session, we asked our 145 event attendees (mainly Melbourne-based) about their business plans in the next few months with regards to staffing. The results were encouraging with 52% saying it will be business at usual and 16% saying that they will be looking to hire more staff within their business.
About Felicity Emmett
Felicity Emmett is Senior Economist in the Australian Economics team at ANZ. She is responsible for analysis and forecasting of key Australian macroeconomic indicators, as well as thematic research on the Australian economy. She also provides specialist analysis on topical issues, including the policy outlook.
Felicity publishes regular and ad-hoc reports and presents to internal and external, domestic and international clients. She also provides regular media commentary on key local economic issues.
Felicity has more than twenty years’ experience as an economist in financial markets. Prior to joining ANZ, Felicity worked as a Senior Economist for the Royal Bank of Scotland, a Senior Economist at ABN AMRO Australia, and as an Economist for BZW Australia.
Are you looking for a new role or do you need support with your business recruitment needs? Moir Group currently have a number of exciting opportunities available in the Melbourne market which you can view here.
Contact Andrew Pownall, who heads up our Melbourne recruitment team and also covers Executive Search across Sydney: andrewpownall@moirgroup.com.au or 0437 554 795