Australia faces slowing economy with inflation sitting among the worst

Our economy seems to be faring better than our neighbour across the Tasman. 

The International Monetary Fund has issued a stark outlook for the Australian economy, as it’s dealing with some of the worst inflation in the developed world. 

It’s forecasting GDP growth of just 1.6% next year, and the biggest rise in unemployment among developed economies – going from 4.4% to 4.7%.  

ANZ Chief Economist Sharon Zollner told Mike Hosking in growth terms, particularly compared to Australia, we look great. 

She says we’re growing out of a hole, with 2.6% growth coming off a weak period, compared to their 2.1% off the back of a quite strong period of growth. 

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