Was QLD really in recession last year?

Thursday 21 May 2015

New Queensland Treasurer, Curtis Pitt, argued yesterday that the state economy was in recession in late 2014, recording two consecutive quarters of negative growth in gross state product (GSP) between June and December – figures disputed by the Liberal Party. From The ABC:

[Pitt] said the state accounts show that gross state product declined by 0.2 per cent in the September quarter and 0.6 per cent in the December quarter.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.