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Worst since the 1990s recession: Alarm grows over sluggish economy
Australia faces its longest stretch of sub-par economic growth since the early 1990s recession, one of the nation’s chief forecasters has predicted, warning that long-run vulnerabilities are finally catching up with the country.
Deloitte Access Economics this morning said it expects the economy to slow sharply through coming months, with GDP growth this financial year and next to slip below 2 per cent. It would be the first back-to-back years of sub-2 per cent growth since the end of the 1990-91 recession.
The slower growth will be accompanied by ongoing inflation, which Deloitte believes will hang around 4 per cent through 2026-27 before falling to 2.6 per cent in 2027-28.
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