Australia’s economy to shrink 0.2 per cent in 2016-17

Industry forecasts show Australia’s industrial sector will shrink 0,2 per.cent in 2016.

The Reserve Bank is forecasting that the economy will shrink by 0.4 per cent this year.

Industry figures are also showing that the number of jobs lost last year was up 0.1 per cent on the year, and the number gained was down 0.5 per cent.

Economists are also predicting that the mining sector will see a small increase in the number it creates, with the mining industry forecasting a 0.3 per cent rise in the numbers of jobs.

Industries and industries’ forecastThe Australian Bureau of Statistics forecast for the mining, energy and construction sectors for this year is for a 0,3 per.

cent drop in the job numbers, while the mining and mining-related industries’ output will be up 1.2 percent on last year.

Topics:economic-trends,government-and-politics,government—state-issues,industry,jobs,mining-industry-and/or-expansion,economic-disaster-and_hurricane-event,coronavirus-and.disaster,australiaFirst posted April 30, 2021 10:36:04Contact Anna YoungMore stories from Australia