IMF Downgrades Australia’s Growth Prospects

The latest IMF forecast is still expecting a growth rate of around 3% in 2018, but they revised down 2017 in the latest Global Financal Stability Report.

Our first half result in 2017 was 1.2%, so the second half is circa 1%, hardly stellar, and the sudden rebound to 3% next year, some might say appears courageous.

They also revised up the unemployment rate, remaining at 5.6%, rather than falling to 5.3% as estimated last time.

This plus slow wage growth highlights the issues underlying the economy.

Author: Martin North

Martin North is the Principal of Digital Finance Analytics

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