Elected by their peers to the Australian Business Economists executive committee, the 18 forecasters work for firms including UBS, Deutsche Bank, JP Morgan and the Westpac, Commonwealth, National Australia and ANZ banks.

Their forecasts are released each November at the group's annual meeting in Sydney.

Although their central forecast is for the cash rate to remain steady at 2.5 per cent until June next year, before climbing to 3 per cent by December, there is a range of forecasts, from a low of 2.5 per cent all year to highs of 3.25 per cent by June and 3.75 per cent by December.

The group expects fairly steady economic growth of about 3 per cent over the next two years, with a change in the mix away from mining investment to dwelling investment and net exports.

Exports are expected to grow by 7 per cent. Import growth is not expected to keep pace, meaning net exports will boost GDP by 1.3 percentage points.

Dwelling investment will grow by 7.5 per cent next year after 9.1 per cent this year, before slowing to 1.5 per cent in 2016.

ABE chairman Stephen Halmarick said he wouldn't characterise the slowdown as a correction.

"Although a few committee members see risks of a correction rising, they've tied it to a significant lift in the unemployment rate, which most do not expect to happen. Housing is supported by low interest rates and strong population growth," he said.

Business investment, mostly mining investment, is expected to fall 4 per cent next year and 1.7 per cent in 2016. The low estimates have it falling 7.3 per cent and 8.3 per cent.

After sliding 6.9 per cent this year, Australia's terms of trade are expected to slide another  3.9 per cent next year, followed by 2 per cent in 2016.

The Chinese economy is expected to grow by 7 per cent next year, while most of the committee expect the United States Federal Reserve to begin lifting the federal funds rate in the second quarter of next year.

Growth in Australian private consumption is expected to pick up from 2.5 per cent this year to 2.7 per cent next year and 3 per cent in 2016.

Employment growth is set to accelerate from 1 per cent to 1.5 per cent to 1.8 per cent. The unemployment rate is expected to fall slowly to 5.9 per cent by the end of next year and 5.7 per cent by the end of 2016.

This year's budget deficit is expected to be $50 billion, rather than the $29.8 billion forecast in the budget. Next year's deficit is expected to be $32.5 billion, rather than $17.1 billion, and the 2016-17 deficit is expected to be $22 billion rather than $10.6 billion.

The Australian dollar is expected to finish the year at 88 US cents, before sliding to 85 US cents by June and 85 US cents by December. The highest forecast is for a dollar of 94 US cents by next December and the lowest is for a dollar of 78 US cents.

FAIRLY STEADY AHEAD

Main forecasts for December 2015

RBA Cash rate: 3%

Australian dollar: 85 US cents

ASX 200: 5975

Dwelling investment: up 7.5%

Business investment: down 4%

Terms of trade: down 3.9%

GDP: 3.2%

Source: Australian Business Economists