Budget and data to shed light on economy

The RBA is expecting economic growth to gradually pick up to two per cent by mid-2025.

The strength of the national economy will take centre stage this week as financial markets turn their attention to the federal budget and a fresh round of confidence and spending data.

Last week, the central bank trimmed its growth projections and now sees gross domestic product bottoming out at 1.25 per cent by the end of this year, down from 1.5 per cent.