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Customer Support Advertising Bloomberg Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Customer Support Central Sydney Now Fueling Quarter of Aussie Economic Growth by Stark growth divides are greater than during mining boom GDP data show 1.1% national growth in fourth quarter of 2016 Central Sydney Fuels 24 Percent of Australia's Growth Inner districts of Sydney drove almost a quarter of Australias expansion last fiscal year, underscoring the citys pre-eminent position in the nations economy. The area stretching from Sydneys central business district to Macquarie Park north of the center made up 24 percent of GDP growth in the financial year through June 2016, according to consultancy SGS Economics & Planning. Inner Melbourne contributed 11.4 percent as Australias east coast cities perform in a similar fashion to their impact on the property market. The most important market news of the day. Get our markets daily newsletter. Sign Up Australias economy expanded 1.1 percent in the fourth quarter of 2016 versus the previous three months, and 2.4 percent from a year earlier, data showed Wednesday. A rebound in iron ore and coal prices last year may have brought some benefits to resource-rich states that have struggled since the end of a mining-investment boom: Western Australia saw its first increase in state final demand since June 2015 and Queensland also recorded a jump. The Reserve Bank of Australia has to manage booming economies in Sydney and Melbourne while the rest of the country is struggling to grow in the face of a range of headwinds, Terry Rawnsley, an economist at SGS, said Tuesday. The stark contrast between growth rates across the country is greater now than at any period during the mining boom. Mineral production in regional Western Australia contributed 6.5 percent to doctor home loan Oak Laurel 0430129662 GDP growth in fiscal 2016, well down on previous years when construction of new mines added significantly to economic activity, SGS said.

2017-03-08 / Posted in