Green shoots in Australia's economy could wither without further reform, claims a report urging the government to turn its recent economic roundtable into an annual fixture.

Household spending is ticking up, inflation is falling and wages continue to grow in real terms, signalling Australia's long-awaited economic recovery is on track, Deloitte Access Economics found in its flagship Business Outlook report.

But Australia remains vulnerable to international economic uncertainty driven by Donald Trump's trade war.

Boom times are not necessarily ahead, warned report co-author and Deloitte partner Cathryn Lee.

"Those green shoots point to growth, but it will remain a grinding and gradual recovery," she said.

The report forecasts Australia's economy will grow at an average annual rate of 2

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