Key View: While household spending in Australia will slow over 2024, our outlook is for spending to return to its more long-term trend level. Inflationary pressures will persist, but gradually fade over the year and real wage growth will return as the labour force maintains its tightness, offering some support to purchasing powers. With interest

The Latest: On September 18 2023, Australia’s government announced the listing of a new form of fast-acting insulin on the Pharmaceutical Benefits Scheme (PBS) from October 1 2023 onwards. In March 2023, the government secured access to Fiasp (insulin aspart) and Fiasp FlexTouch for six months and has since negotiated with drug sponsor Novo

Key View

• Structural challenges posed by Australia’s National Immunisation Program (NIP) continues to restrict effective vaccine procurement and immunisation rates.
• Australia’s government will adapt vaccine procurement approaches in line with epidemiological risks and leverage a revised HTA policy to ensure adequate vaccine access.
• Increasing

Key View

• The beginning of strike action at two of Australia’s liquefaction facilities poses downside risk to the country’s LNG exports through to the end of this year.
• Japan stands to be the most significantly affected LNG import partner in the event that exports from both facilities are significantly disrupted, though the impact on its gas

Key View

• Over the past quarter, Australia's renewables sector has experienced strong developments of its project pipeline. This is in line with our expectations, and we have maintained our forecast for a robust expansion of its non-hydropower renewables sector.
• The strong growth of the renewables sector will be complemented by the market's

Key View

• We retain our view for Australia’s real GDP growth to slow sharply in 2023 as strong headwinds take a toll on the economy amid tight monetary conditions and high household leverage.
• We forecast real GDP to increase by 1.9% this year, after expanding by 3.7% in 2022.
• Elevated household leverage has exacerbated the impact of

Key View

• We expect a full resumption of Australian copper exports to Mainland China in 2023.
• We also hold the view that an improving bilateral relationship between Australia and Mainland China will lend support to higher copper production in Australia.
• That being said, we still expect Australia’s share of China’s copper imports to remain

Key View

• On May 9 2023, Australia announced its Federal Budget 2023-24, with a key focus on unlocking over AUD10bn in investments for the power sector. We believe that this will bolster the market's already strong growth of non-hydropower renewables in the power sector.
• International cooperation and support have also been forthcoming to aid