Updated OECD forecast
OECD increased their economic growth forecast for Australia by 0.2% for 2018 and by 0.3% for 2019. The same annual figures for the US economy were in excess of 1.5%. We have commented before that Australia’s ever higher minimum wages, excessive regulation and growing taxation seem to correlate negatively with GDP per capita. Our politicians are obviously unable to reverse such trends and boost the nation’s prosperity.