Analysts have trimmed forecasts for Australian economic growth following some disappointing numbers last year, but still tip solid outcomes ahead even in the face of falling house prices and a slowdown in China.
SYDNEY (Reuters) – Analysts have trimmed forecasts for Australian economic growth following some disappointing numbers last year, but still tip solid outcomes ahead even in the face of falling house prices and a slowdown in China.
Economists polled by Reuters forecast Australia’s A$1.87 trillion ($1.34 trillion) of annual gross domestic product (GDP) expanded by 3.0 percent in 2018, down from 3.2 percent in an October poll.
The downgrade reflects a surprisingly soft outcome in the third quarter of last year which soured what had been a strong first half. Data for the fourth quarter is not due until early March, though signs are that growth might be moderate at best.
The economy is then seen running around 2.7 percent through 2019 and 2020, further extending the country’s 26-year stretch without a recession.
