Business
Recession likely over, says RBA, but recovery looks rocky – Sydney Morning Herald
The Reserve Bank’s deputy governor believes the economy started growing again in the September quarter, but the recovery will be rocky with clear risks ahead.
“At the moment our best guess is it looks like the economy probably recorded positive growth rather than negative,” he said.
“As best as we can tell … the strength elsewhere in the country was more than the drag from Victoria, and possibly the drag from Victoria was a little less than what we had guessed.”
Dr Debelle said while some parts of the country were doing well, such as the West Australian mining sector, others including tourism, education and services such as entertainment were struggling.
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