Part 2: Economic outlook - Budget

Following subdued growth in the second half of 2018, growth in the Australian economy is picking up. Nonetheless, GDP growth in 201920 has been downgraded by ½ of a percentage point since PEFO to 2¼ per cent, reflecting recent outcomes in household consumption growth. GDP growth is forecast to return to 2¾ per cent in 202021 (Chart 1). ................
................