AUSTRALIA - OECD.org

3. DEVELOPMENTS IN INDIVIDUAL OECD AND SELECTED NON-MEMBER ECONOMIESOECD economic OUTLOOK, VOLUME 2018 ISSUE1 PRELIMINARY VERSION OECD 201897 AUSTRALIAThe economy will continue growing at a robust pace, around 3%. Businessinvestment will pick up, with exports boosted as new resource sector capacity comes onstream. Public infrastructure investment will also support growth. A stronger labourmarket and rising household incomes will sustain private consumption. Inflation andwages will pick up policy is appropriately supportive, with the central bank projected to startgradually tightening towards the end of 2018, when the pick-up in wages and pricesgathers pace. Risks from the housing market and high household indebtedness warrantcontinued vigilance. The fiscal position is sound. In the event of a downturn, fiscal policyshould be used to support activity and protect the incomes of the most and external drivers underpin growthImproved terms of trade, strong global economic growth and additional resourceexports are supporting the economy.

3. developments in individual oecd and selected non-member economies oecd economic outlook,volume 2018 issue1–preliminary version © oecd 2018 97 australia

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