Australians are in for a decade of anaemic growth as the mining boom dissipates, unless business and governments can find new ways to significantly boost productivity, Westpac has warned.
Rising export prices for commodities such as iron ore and coal generated a national income windfall since the early 2000s by allowing people to consume more imports for a given amount of exports.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
