The Australia economy forecast released by the International Monetary Fund (IMF) in October 2009 predicts that despite the global economic and financial crisis that forced most of the world's economies into recession, the country's economy will grow in 2009.
In particular, the IMF predicts that after growing by 4% in 2007 and 2.4% in 2008, the Australian economy will continue expanding in 2009 by 0.7%.
As the graph below indicates, real GDP expansion is predicted to accelerate in the following three years (2010-2012)in Australia registering annual growth rates of 2%, 3.3% and 3.4%, respectively.
Australia Economy Forecast October 2009
Source: IMF,Property-Investing.Org
IMF's Australia economy forecast predicts also that inflation in 2009 and 2010 will drop to 1.6% and 1.5%, respectively, from 4.4% in 2008. As the graph below indicates, in 2011 and 2012 inflation is predicted to rise to 2.1% and 2.6%, respectively.
Australia Inflation Forecast October 2009
Source: IMF,Property-Investing.Org
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