Macro - Country Economic Forecasts - Australia

Macro - Country Economic Forecasts - Australia



We've marginally lowered our 2024 GDP growth estimate for Australia by 0.1ppt to 1% and continue to forecast growth of 2% in 2025. The Q3 national accounts were in line with our modest expectations, with GDP increasing by just 0.3% q/q in the quarter. We believe the economy is lacking a clear engine of growth outside of the public sector, and productivity growth remains on a concerning trend.


Australia: Public demand is still keeping the economy afloat
Forecast overview
Recent developments
Short-term growth outlook
Key drivers of our short-term forecast
Economic risk
Economic Risk Evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Background
Economic development
Structure of the economy
Politics

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