'Australia is toast' foreign investors tell NAB

Posted by Simon Dehne on September 22, 2015 in Latest News with No Comments


Foreign investors have turned especially bearish on the Australian economy, with one describing it as “toast”, a National Australia Bank report says.
Chief economist Ivan Colhoun said a recent visit to clients in Britain, continental Europe and the Middle East revealed a “uniformly negative view on Australia’s prospects”.
“I have never experienced such overwhelming negativity on the outlook for the Australian economy and Australian dollar in all my years marketing the Australian economy offshore,” he wrote on Monday.
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