17th year of growth for economy
September 04, 2008
While Gross domestic product growth has had it’s weakest quarter in more than three years, it has still managed to notch up it’s 17th straight year of growth.
After the last quarter, the annual GDP growth dropped from 3.3% to 2.7% however percentage change in Victoria is up 1.8% between March to June 2008. Tasmania seems to be experiencing the most growth at 3.2% although NSW has dipped 0.1%.
The Property and Business Services sector, of which both recruitment and design/advertising agencies belong to, has seen an increase of 2.1% during the past quarter, the third highest sector for growth after Personal and Other Services (2.6%) and Transport and Storage (3.2%).
Recent data compiled by CommSec has Australia sitting at the top for the 10 industrialised countries ranked by their June quarter growth with many economists saying that Australia is staying close to long term averages whilst other countries globally are skirting recession.










