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Soul Patterson’s CEO, Todd Barlow, has delivered a nice reality check to Australia’s economists, warning that the economy is far too reliant on services for growth. From The Australian:
Mr Barlow told The Australian the nation’s shift towards service-based industries, and away from manufacturing, created problems when consumers “tightened their belts” and reined in spending on services.
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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.