A LEADING Australian economist has used a visit to Springfield to paint a rosy picture of Queensland and the country’s economic outlook.
Professor Ian Harper of Deloitte Access Economics said Australia was more than just a “quarry and farm” and predicted growth would stay on trend at three per cent as the mining boom shifted gears from its capital investment phase to long-term resources export.
Speaking at the University of Southern Queensland’s Springfield campus earlier today, Prof Harper said talk of possible recession in Australia was unfounded and that there was a disparity between the bleak economic perception and brighter reality.
“Things have been bumpy along the bottom internationally but there’s no disaster here,” he said. “The long term outlook for us is as rosy as it could possibly be for a country of 23 million people.”
He said the manufacturing industry would change but survive, and there would be ongoing demand for Australian services and commodities as the growth of the middle class in China and India continued.
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– James Drew