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An examination of today’s June quarter national accounts revealed an ongoing slowing in growth across the mining jurisdictions – as measured by state final demand (a proxy measure for gross state product that does not include trade) – and an apparent rebalancing of growth towards the non-mining states.
The first chart below shows the growth in the key mining strongholds of Western Australia, Queensland, and the Northern Territory against everywhere else:
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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.
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