Original article by Patrick Commins
The Australian – Page: 1 & 5 : 2-Dec-20
The OECD is upbeat about the outlook for the Australian economy, forecasting that it will grow by 3.2 per cent in 2021. This compares with its previous forecast of 2.5 per cent. The domestic economy is now expected to contract by just 3.8 per cent in 2020, rather than 4.1 per cent as forecast by the OECD in September. The Paris-based organisation has also cautioned against withdrawing fiscal and monetary policy support prematurely. Meanwhile, economists have forecast that the economy grew by between 2.8 per cent and four per cent in the September quarter, ahead of the release of national accounts data on 2 December.
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT