Australian economy gasps on public sector life support

Yesterday’s December quarter national accounts release from the Australian Bureau of Statistics (ABS) was hailed by Treasurer Josh Frydenberg as another tick of approval for the Australian economy:

The Australian economy continues to grow with today’s National Accounts seeing growth increase from 1.8% through the yr in the Sept qtr to 2.2% in Dec.

This reaffirms the resilience of the Aust economy & confirms we’re well placed to navigate the economic challenges we face. pic.twitter.com/054MSkR3SB

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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.