Business

IMF downgrades Australian GDP estimate

THE International Monetary Fund has downgraded Australia's growth forecast for 2012 to 3 per cent, but has projected an increase to 3.5 per cent by 2013.

Releasing its April update to the World Economic Outlook on Wednesday, the IMF downgraded its estimates for Australia's gross domestic production (GDP) 0.2 per cent from earlier outlooks.

But the outlook for Australia's economy still looks good against the United States and Europe.

The outlook said the US was looking at growth of 2.1 per cent of GDP for 2012 and 2.4 per cent for 2013, while Europe continues its sad performance with projections at -0.3 per cent for 2012 and 0.9 per cent of GDP growth for 2013.



Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Tweed house up for grabs

Mark Stapleton, Sharon Styman and Peter Ross from Invest Rent Property Management are offering the chance of a lifetime to one of their members.

Pot of gold for property investors.

‘Kingscliff salute’ angers business owners

Emily Wilson, Nathan Devin, Heather Stewardson and Di Human all work at Kingscliff and are fed up with the poor phone and internet coverage in the town.

Businesses losing thousands over poor internet and phone services.

Funding cuts unfairly hit region

Belinda Robinson.

Cuts "unfairly target" regional universities

Latest deals and offers

Perfect time to invest in Northern Rivers property

The Northern Rivers rental market is tighter than Sydney making it the perfect time for investors to get better returns out of property than superannuation or banks deposits.

Low interest rates and tight rental market are prime time to invest