Morrison cock-a-whoop at booming “ute” economy

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Via Treasurer Scott Morrison:

“The national accounts show we are also delivering economic growth. We have climbed back to the top of the leaderboard – we are again leading the advanced economies, bettering the average growth of the OECD and each member of the G7 group of leading industrial nations.”

…Imports of capital goods – machinery and equipment – jumped 12.2 per cent in the quarter and 28 per cent for the year.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.