Economy to grow sub-3 pct to 2018: OECD

Colin Brinsden, AAP Economics Correspondent
(Australian Associated Press)

 

If Treasurer Scott Morrison is hoping for an economic growth spurt to help repair the budget, he could be disappointed.

The Organisation for Economic Cooperation and Development expects the Australian economy to be travelling at a sub-three per cent pace by the end of 2016 and does not expect it to pick-up above this level again until 2018.

The economy was expanding at an annual 3.3 per cent pace as of June.

However, in its latest Economic Outlook, the OECD expects by 2018 unemployment will be down to 5.3 per cent and inf