Beef, energy stocks to lead Australia's growth: analyist

Australia's beef farming, child care services and the energy sector are said to be Australia's leading growth sectors for the next Australian financial year, IBISWorld said on Tuesday.

Local media reported that the growing demand from Asian markets, especially Japan, is expected to be a revenue driver for Australia 's liquefied natural gas sector (LNG).

"In conjunction with growing production, selling LNG at global prices, rather than the cheaper domestic prices, will provide an additional boost to industry," IBISWorld senior industry analyst Ryan Lin said on Tuesday.

The increase in Australian duel-income families is also expected to aid Australia's childcare sector with support from the Australian government.

Strong overseas demand and prices for Australian beef is expected to boost revenues in Australia's agricultural sector, offsetting the impact of a forecast decline of live Australian cattle exports to Indonesia.

However, the financial sector and ceramic product makers are expected to lead Australia's revenue falls.

"Sales of locally manufactured refractory and specialist ceramic products are also expected to take a hit in 2015/16, as demand from the iron smelting and steel manufacturing industry continues to dwindle," Lin said.

Australia's historic low interest rates are also expected to result in significantly lower revenues for credit unions and commercial banks, despite increased activity in Australia's residential property market. Endi