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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 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.
to reduce the unemployment rate. Unemployment is predicted to rise and not fall below 6% until 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%.
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%.