PRESS RELEASE: Dave Deicke talks about economic growth for business in Australia 2016
Dave Deicke, Business Manager, in Melbourne, has reflected on the state of businesses in Australia with the latest news that the Australian economy is recording its 20th consecutive quarter of growth in the first three months of the year, according to data released by the Australian Bureau of Statistics (ABS) back in March 2016.
It’s been nearly a quarter of a century since Australia has been in recession and we continue to grow from strength to strength. Then Australia went onto to have a historic, and near unprecedented economic record by June 2016.
At 3.3% the GDP growth rate was very fast, with remarkable achievements by Australia we were in the midst of an economic transition.
Netherlands beat Australia, in terms of a period without a recession for a developed economy.
So what is the cause?
Strong population growth was the main reason the GDP prospered. Strong population growth makes it hard for the economy to have a recession.
Living standards are better assessed by looking at per capita basis rather than just reporting on the whole of Australia averaged out.