A U, with a rather longer dip in the middle. Economists speak for a downturn that just goes on and on. Today, the odds on the V curve, with a mid-year economic bounce back are looking increasingly remote. New housing, finance and business activity figures have combined with a sliding stock market to create a bleak picture. Business reporter Zoe Daniel in Melbourne.
Business confidence remains depressed.
Housing finance has weakened. Share markets are sliding and the Aussie dollar is still mired near record lows. That's a direct quote from economic commentary out today, just about summing up the bleak picture. And new data out today hints it may be longer than we thought. Westpac Head of Economics, Bill Evans.