The OECD released its November economic outlook last night. It included a full two page summary of the Australian economy, enough to trigger a frenzy of hand-waving and hand-wringing across the media.
The OECD said with admirable brevity that:
- mining will be OK next year
- the dollar will stay high
- we need tax reform to encourage innovation and to grow beyond the mining boom
- we will grow at 3.25% next year
- we should ease fiscal tightening if growth falls
- interest rates will fall further
- if China crashes so will we
All a little too optimistic but sensible enough. The two pages are available here if you wish to waste more time.
Advertisement