Westpac Senior Economist Elliot Clarke will discuss the risks and opportunities ahead for business and the outlook for the Australian dollar at the Drinks Association's upcoming Network Breakfast.
Clarke has been with Westpac Economics for nine years, having previously worked at the Reserve Bank of Australia. Over his career, Clarke’s focus has been on Australia’s place in the global economy, assessing economic and financial developments in Asia for the RBA, and now as he manages Westpac’s global economic and financial market forecasts, with a particular focus on the US, Europe and China.
Clarke holds an honours degree in economics from the University of Sydney, a Masters of Applied Finance from Macquarie University and is also a CFA Charterholder.
According to Clarke, 2019 has seen a strong rally in global equity markets and a stabilisation in world growth, most notably in China. He notes that Australian exporters have benefitted from these developments. However, our domestic economy has come under significant pressure from declining wealth and high household debt, leading to calls for the RBA to cut interest rates and for the government to cut taxes or increase expenditure.
Following the 2019 Federal election and ahead of expected interest rate cuts from the RBA in August and November, his update will give a global overview, while exploring the impact of poor wages growth, high household debt and declining house prices and affordability.
His presentation will explore growth divergence in Australia, in the wake of NSW providing about half the nation’s economic growth in the second half of last year, despite the state having less than a third of Australia’s population, plus the RBA and currency outlook.
Additionally, Clarke will examine opportunities in Asia through service exports and population growth.
This is a not-to-be-missed expert perspective for the drinks industry on the economic prospects for Australia over the coming 12 months.
Please note the event is being held at North Pier, Doltone House, Jones Bay Wharf, 26-32 Pirrama Rd,
Pyrmont Point NSW
When: Wednesday, June 19
Where: North Pier, Doltone House, Jones Bay Wharf, Sydney
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