Australian Economic Growth Results – July Quarter 2017
Yesterday, we officially found out that Australia extended the world record for most consecutive quarters of economic growth.
Non-mining growth was excellent and total household consumption rose nearly 1% despite wage growth stagnating at just under ½ a percent.
Yet, with these comparatively weak results – Treasurer Scott Morrison called the results a “strong set of numbers.” So why the sudden optimism?
Reporter Hans Lee asked Shane Oliver – Chief Economist at AMP Capital if these were the results he was expecting.
Original Broadcast: September 7th, 2017