The Canberra Times is all a-twitter with the ACT economy going into technical recession yesterday. This means that negative growth (contraction for those who don’t hate the language) was recorded for two consecutive quarters.
It’s a bit rude when even NSW and Qld are yet to record this economic effort.
This strikes many as peculiar with unemployment still the lowest in the country. Even a recession can just mean the good times aren’t quite as good as they were.
But here in the RiotACT foxhole we took a moment to chill from the incoming fire and consider that our readers in the IT industry here in Canberra were reporting incongruous doom and gloom six months ago while the sun shone on the rest of us.
So to what extent has the Gershon Report done down local economic growth?