Australia's GDP seen expanding 2.8% in 2018 & 2019 – Reuters poll

The results of the latest Reuters poll on the Australian economic growth prospects, a majority of the economists polled believe the Australian economy is going to see a cruising growth over the next two years courtesy of strength in jobs, business investment and public spending.

Key Findings:

“Economists polled by Reuters estimated Australia’s A$1.8 trillion ($1.44 trillion) of annual gross domestic product (GDP) expanded 2.3 percent in 2017, unchanged from October’s forecast.

Analysts predicted growth would level out at 2.8 percent for both 2018 and 2019, extending Australia’s already-remarkable run of 26 years without a technical recession.

Analysts polled also see only a very gradual pick up in price pressures ahead.

Consumer price inflation is forecast to average 2.2 percent this year and 2.3 percent next, though at least that means the RBA should be able to keep policy loose for as long as proves necessary.“