Australia has GDP growth of 4.3%, at the same time inflation is running at 1.3%, at the same time the unemployment rate is below 5.5% (5.2% to be precise), at the same time mortgage interest rates are below 7% (6.85% for the standard variable rate).
Delving into the various data bases to try to match up a time when Australia’s GDP growth was 4% or more, inflation was 1.5% or less, the unemployment rate was 5.5% or less and the standard variable mortgage interest rates was 7% or less, and I came up with March quarter 1964.
Clearly it’s been a long time since Australia has enjoyed these current economic fundamentals. It’s great news that we should celebrate and enjoy.
Beeks Downunder-Because not all financial news is boring! 