Australia's slow economic growth has highlighted a split between public and private sectors
Australia's slow economic growth has highlighted a split between public and private sectors
5 September 2024
Its GDP rose one percent over the past financial year -- the lowest outside Covid, since 1991-92.
GDP per capita also shrank for a sixth consecutive quarter, down point-four percent.
JMI Wealth Director Andrew Kelleher says it's down to increased government spending, tourism and foreign students.
He says Australia's private sector was a negative contributor to growth, but strength in the public sector offset that.
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