Michele Bullock keeps telling us productivity is flatlining. How it changes may well determine if the Reserve Bank will tolerate wage rises beyond 3%Follow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastIf the Reserve Bank’s GDP forecasts about the Australian economy are right, we should be close to a nadir with a sustainable upswing on the way – provided we can get more efficient at what we do.Productivity growth – a concept that quickens the pulse of economists and almost nobody else – has slowed in Australia and most other developed nations for years.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…
Source link : https://www.theguardian.com/business/article/2024/aug/18/australia-economy-productivity-interest-rates-reserve-bank
Author : Peter Hannam Economics correspondent
Publish date : 2024-08-18 02:00:13
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