Focus on costs to tackle slowdown, says economist

22 July 2019

Australian procurement professionals should start focusing on efficiency as fears of softer economic performance and structural pressures point to a potentially difficult ride for business, warns Bank of Queensland chief economist Peter Munckton.

Speaking at the CIPS Australasia Conference in Melbourne, Munckton said that lower interest rates and a weaker Australian dollar pointed to a potential uptick in economic performance. However, he said it was not clear how well they would help businesses weather the impact of China’s growing domestic debt problems and continuous challenges from increased domestic competition.

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