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AUSTRALIA - OECD.org

3. DEVELOPMENTS IN INDIVIDUAL OECD AND SELECTED NON-MEMBER ECONOMIESOECD ECONOMIC OUTLOOK, VOLUME 2016 ISSUE 2 OECD 2016 PRELIMINARY VERSION105 AUSTRALIAE conomic growth is projected to pick up to 3% by 2018. The decline in resource-sectorinvestment will tail off and the non-resource sector will be supported by a steadyincrease in household consumption and investment as wages and employment falls in unemployment will help reduce inequality and are not expected togenerate strong inflationary policy tightening is expected to commence towards the end of 2017 andthis is appropriate given likely monetary-policy developments elsewhere, the cyclicaldevelopment of the domestic economy and the need to unwind tensions from thelow-interest environment, notably in the housing market.

3. developments in individual oecd and selected non-member economies oecd economic outlook,volume 2016 issue 2 © oecd 2016 – preliminaryversion 105 australia

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