General
GDP is up, but recession conditions remain
The September quarter national accounts released last Wednesday have been interpreted by some commentators as heralding the end of the recession. If only that were true. Those commentators are confusing the change in economic activity with its level.
It is true that real GDP rose by 3.3% in the quarter — one of the largest quarterly increases on record — but it is also true that this followed the largest quarterly contraction on record, of 7% in the June quarter.
Assessments of where the economy stands in the business cycle require more than one quarter’s GDP —and indeed not just GDP, but a range of other indicators such as employment.
The fact is that despite the latest quarter’s surge in GDP, the level of GDP…
-
General20 hours agoAustralian economy still vulnerable to US bond turmoil
-
Noosa News5 hours agoMotorbike rider dies after car collision at Kidaman Creek, west of Sunshine Coast
-
Business19 hours ago2 ASX 200 shares that could be top buys for growth
-
General6 hours agoDemocratic senators want an investigation into potential market manipulation from Trump’s inner circle