Australia Seen Needing Stimulus to Avoid Recession
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Australia could face its first recession in almost 25 years unless authorities further stimulate the economy, Morgan Stanley said.
The nation’s economy will expand just 1.9 percent in 2015, with 1.5 percentage points of that coming from higher exports, and unemployment will climb to 6.8 percent, Morgan Stanley economists led by Daniel Blake said in a research report today. They project the currency will fall to 76 U.S. cents by the end of next year from 87.37 cents at 11:10 a.m. in Sydney.