(2 December 2016, AFR, p32, by Philip Baker)
‘Cop that. While sharemarket investors have spent the past few weeks jumping on the coat tails of all the gains made on Wall Street, the latest official survey of business investment shows just how dismal it is out there in the real world. The Australian economy is not in good shape and could even be going backwards. Investors won’t know that for sure until next week when the third-quarter national accounts get released, but already some economists are warning the next GDP number could be a negative one. There’s a decent dose of reality here that investors can’t ignore.