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Deloitte cuts Australia's 2026-27 growth forecast to 1.3%
Textiles
Deloitte cuts Australia's 2026-27 growth forecast to 1.3%
09 Jul '26
2 min read
Pic: Shutterstock
Insights
Deloitte Access Economics has cut Australia's 2026-27 real GDP growth forecast to 1.3 per cent from 1.9 per cent.
For textile and apparel exporters, weaker consumer spending and confidence point to a tougher demand setting.
Inflation and higher rates are squeezing households, with essential prices rising faster than headline CPI.
Deloitte Access Economics has lowered Australia’s real economic growth forecast for 2026-27 to 1.3 per cent from 1.9 per cent, signalling a weaker demand backdrop for textile and apparel exporters, importers and retail sourcing teams serving the Australian market.
The economy is expected to record annual growth below 2 per cent for the next two years, including 1.1 per cent over the year to December 2026, the latest Deloitte Access Economics '
Business Outlook'
said.
Deloitte Access Economics has cut Australia's 2026-27 real GDP growth forecast to 1.3 per cent from 1.9 per cent.
For textile and apparel exporters, weaker consumer spending and confidence point to a tougher demand setting.
Inflation and higher rates are squeezing households, with essential prices rising faster than headline CPI.
The outlook is being pressured by rising interest rates, weak consumer and business confidence, stalled housing investment and a prolonged cost-of-living squeeze.
The report said that consumer spending is weakening as households adjust budgets, while business investment remains subdued outside data centre construction.
Deloitte reported, citing the June 2026 edition of Outlook, that headline consumer price index (CPI) may stay above 4 per cent for the rest of the calendar year, with underlying inflation edging higher as the oil shock moves through supply chains, peaking in early 2027 and returning to target in 2028.
The repo
