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Australian budget: key economic developments and forecasts 2013-16 | Australian budget: key economic developments and forecasts 2013-16 |
(4 months later) | |
The Treasury has published numbers for the 2014 economic and fiscal outlook. | The Treasury has published numbers for the 2014 economic and fiscal outlook. |
Real GDP is expected to fall in 2014-15 and only begin to grow above trend from 2016-17. | Real GDP is expected to fall in 2014-15 and only begin to grow above trend from 2016-17. |
Employment growth in 2014-15 is expected to improve slightly but not enough to reduce the unemployment rate. Unemployment is predicted to rise and not fall below 6% until 2018. Inflation and wages growth is expected to stay steady for the next four years. | |
Nominal GDP growth falls in 2014-15 and rises in the other years. But even at 5% it remains below the 20-year average of 6.25%. | |
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