AUSTRALIAN RECESSION

Press, Volume C, Issue 29554, 1 July 1961, Page 18

AUSTRALIAN RECESSION

Recovery By September SYDNEY. June 30. Leading stockbrokers in two states today forecast thet September rfwuld be the turning point in Australia’s present economic recession. The Sydney brokers. Messrs W. King and Yuill in their tete® letter to clients, state that "the evidence suggests September.” Simultaneously W. P. Ham, from Melbourne, ■ays; “The sr.owtnll is still rolling downhill, but it can be expected to reach its trough about September.” Sydney brokers point out Shat the hugest influence on the level of business activity in September will be what businessmen think and feel about the Federal budge* in August. There can be no doubt.” ■ays the circular. "that this year’s budget wiM be desr.emed to stimulate economy.” The brokers say Australia ■’ands higher than ever, both absolutely and relatively, to other developing countries, in the esteem of overseas investor*. Ham says that in spite of the still deteriorating employment situation, with all it implies, the “silver lining is showing through the clouds’’ as the natural ootinsian of the people is beginninc tn reassert itself.