Demand Figure: Gdp Figures

demand figure: Unlike the national GDP figures, the gross state product figures are released only annually, and as such they help provide a broader picture of the economy than we get in the quarterly GDP figures, according to The Guardian. In the quarterly national figures the broadest measure we get of states' economic performance is the state final demand figure, which excludes exports and imports and can hide a great deal of what is going on. But the figures also highlight the ongoing problem of flat income growth with most states showing either falling or barely any growth in real household income for the past six years. We can't sustain a growing economy if wages don't keep up Greg Jericho Read more This is especially so in the case of Western Australia. However, that aside the latest figures confirm the other economic data that Victoria has been doing well and that New South Wales is slowing. Its falling state final demand since 2012-13 had some suggesting it was in a recession, whereas when trade is included it is clear that its economy has actually grown since then But as state final demand focuses on aspects such as consumption, investment and government spending, a case could be made that for most inhabitants of a state especially its workers final demand is more important than gross state product especially if the export income is flowing mostly to company profits rather than wages. (news.financializer.com). As reported in the news.