Chicken Chalmers crows about economic wreckage

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The most recidivist liar in the parliament is Treasurer Jim “chicken” Chalmers.

Treasurer Jim Chalmers says the Australian economy has turned a corner after the strongest GDP growth figures since the pandemic, but economists say any recovery will be shallow as long as productivity remains stuck at 2016 levels and business investment stays tepid.

The economy expanded by 0.6 of a percentage point in the December quarter, the Australian Bureau of Statistics said on Wednesday, thanks to a long-awaited pick-up in household demand and a strong rise in state government spending.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.