Australian Economy Australian recession Featured Article

FIRE sector party pushes Oz risk to GFC eve

Thursday, 5 March 2015

Yesterday’s national accounts release for the December quarter confirmed that Australia’s FIRE economy – Finance, Insurance and Rental, Hiring & Real Estate Services – continues to bath in sunshine, maintaining its record high 11.3% share of the Australian economy (see next chart).

With finance and insurance doing especially well, hitting an all-time high 8.6% GDP share (see next chart).

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.