Looks like our Economists got a little surprise today because they expected the Australian Bureau of Statistics to report a slight increase in the country’s Gross Domestic Product, or GDP figure.
Well, today’s figure was negative, surprise, surprise! But hey….at least agriculture, fishing and forestry recorded a positive + 0.2% growth!
What the media won’t tell us when they stir this one up though, is that the latest GDP figure is for the September to December quarter (a whole 2 months ago) and that quarter followed straight after the biggest financial shock the world has ever witnessed when 3 out of 5 major, major banks collapsed. Read the rest of this entry
