I attended a very interesting seminar organised by GPS Wealth  http://www.gpswealth.com.au this week.Economist,  Emmanuel Calligeris gave a his outlook for the Australian Economy. The key points were:

• The Australian Economy to grow at 2%, (OK but not great)
• The next interest rate move by the Reserve Bank is likely to be down.
• House prices are likely to remain about were they are now.

Hope this is of use.