Australia's independent economists in Fairfax Media have said that the Australian economy is not likely to meet the official forecasts this year and in the next year.

Fairfax Media's half-yearly economic survey found that the economy will grow at a slower pace this year and in the next year. It is believed that the change of focus from the mining sector to other sectors will not be a smooth transition. The total unemployment is expected to rise in the coming months but is expected to remain below 6 per cent in the country.

The Australian economy is expected to grow by 2.35 per cent, which is lower than 2.75 per cent growth predicted by the Treasury's budget. A total of 27 economists surveyed expect the economy to grow by 2.75 per cent during 2014-15. The budget expects 3 per cent growth during the next financial year.

The population in the country is growing at the rate of 1.75 per cent and this means that the growth per head will be just 0.6 per cent this year and 1 per cent during the coming year. The survey included economists from financial institutions, universities, consulting firms and industry groups.