RaboResearch - Economic Research

Country Report

Australia: an economy in transition

The Australian economy remains resilient. After the mining investment boom, the economy is now primarily driven by net exports and consumption. Meanwhile, the housing market softened due to tightened lending standards to housing investors.

Country Report

Singapore: slowing growth, but still top notch

Singapore’s economy faces multiple headwinds. But, strong institutions and effective policymaking support (potential) growth. Owing to the landslide victory of PAP in the September’s national elections strong policy continuity is preserved.

Country Report

New Zealand: continuing stress in dairy and housing sector

The economic growth outlook has worsened due to less favorable global outlook, which keeps key commodity prices low. The risk of a sharp correction of house prices in Auckland has induced the government to implement additional macro-prudential measures.

Country Report

Country Report New Zealand

Economic growth is slowly decelerating in New Zealand due to prolonged low commodity prices. Low milk prices put a strain on the dairy sector. Meanwhile, the RBNZ in general softened its LTV restrictions, but tightened it for the Auckland area.

Country Report

Country report Singapore

Strong institutions and policymaking support (potential) GDP growth, while the country’s small size and ageing pose challenges. Healthy balance sheets and a solid international creditor position reduce Singapore’s susceptibility to (global) shocks.

Country Report

Country Report Australia

Economic growth in Australia is slowing due to lower mining investments and lower prices for its commodities. This also negatively affects the government budget. Meanwhile, private consumption is still backed by the rising house prices.

Country Report

Country Report New Zealand

New Zealand experiences relatively strong, domestic-driven, economic growth. A major risk to the outlook is the current deterioration of the terms-of-trade. Meanwhile, the central bank slowed down the potentially overheating housing market.

Country Report

Country Report Japan

We believe Abenomics -consisting of fiscal, monetary and structural measures- is a unique opportunity to end deflation and spur growth. However, political reality shows that Abenomics is incomplete as structural reforms are clearly lagging.

Country Report

Country Report New Zealand

New Zealand suffers from a persistent gap between savings and investment. Growth is currently gaining momentum, but this is mainly credit-driven. House prices are increasing fast and the necessary deleveraging process has been put into reverse.