CEO: Aussie economy too reliant on services

Advertisement

By Leith van Onselen

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.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
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.