22/06/2004 - 22:00

OECD Growth Forecasts

22/06/2004 - 22:00

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OECD Growth Forecasts

OECD Growth Forecasts

 

AUSTRALIA’S real GDP is forecast to grow by 3.8 per cent in 2004 and by 3.5 per cent in 2005, according to the latest forecasts from the OECD.

Growth is forecast to pick up pace in the US in 2004 before easing in 2005, while the Euro area is forecast to maintain its growth recovery in 2004 and into 2005, although growth will remain sluggish, reaching just 2.4 per cent in 2005.

Across the whole OECD, GDP growth is forecast to accelerate from 2.2 per cent in 2003 to 3.4 per cent in 2004, before easing slightly, to 3.3 per cent, in 2005.

Australia's economic growth rate has equalled or exceeded the OECD average for 11 of the past 12 years.

 

Source: OECD Economic Outlook, June 2004

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