On The Money

The March quarter National Accounts released last week show Australia’s economy grew by 0.9 percent in the first quarter to 2.3 percent higher over the past year.

Treasurer Joe Hockey described the figures as ” a good solid result …completely consistent with our measured and appropriate Budget forecasts including our expectation of 2½ per cent GDP growth for this financial year.”

The Treasurer said the figures make Australia one of the “fastest-growing economies in the developed world, and faster than any of the G7 in the quarter.”

But Economics Writer for The Guardian, Greg Jericho, says one quarter does not a strong economy make.

He speaks with On the Money Executive Producer, Catherine Zengerer.

Image source: ABS