Victoria’s real GDP will grow by 2.6 per cent this year and 1.8 per cent in 2023.
Some of the hardest-hit services sectors during the pandemic, including the accommodation and food services sector and the arts, entertainment, and recreation sector, will continue to recover over the next couple of years.
The services-producing industries will continue to outperform the goods-producing industries over the next several years as we move beyond the pandemic.
Our call is for Victoria’s consumer price index to rise by 7.6 per cent this year before easing back down to growth of 4.0 per cent in 2023 and 2.3 per cent in 2024.
Pressure to increase wages continues to rise, to compensate for higher prices.
There are no reviews yet.