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1.Market Observations, 8.Was Sticky

8 Dec 2016 (AFR) – GDP slump unveils economic fragility

(8 December 2016, AFR, p1, by Jacob Greber)

‘Treasurer Scott Morrison has doubled down his demand for parliament to back planned company tax cuts and rejected calls for extra government spending after presiding over the economy’s weakest quarter since the global financial crisis in 2008. A perfect storm of weak trade numbers, falling home construction, and plunging investment – by both government and business – saw gross domestic product shrink 0.5 per cent last quarter, only the fourth such contraction since the last recession in 1991.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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