Australia’s ‘abysmal’ productivity rate remains an issue
La Trobe Financial CEO Chris Andrews claims Australia has had “a little economic miracle” over the last three years, but productivity remains “abysmal”.
“We have had a little economic miracle over the last three years – we’ve had the most aggressive rate tightening cycle, despite that, we’ve avoided recession, we’ve kept unemployment under control, and inflation is coming down,” Mr Andrews told Sky News Business Editor Ross Greenwood.
“But productivity is abysmal, national incomes have been going backwards for the last two years, and our number one trading partner in China is going to see its population shrink by seven million people over the next five years.”
In partnership with LaTrobe Financial.
from Sky News Australia
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