Melbourne
newspapers are claiming Victoria slipped into recession last quarter although
apparently it depends on which measure you use.
Victoria,
SA, ACT, and Tasmania all recorded lower State Final Demand figures for two
consecutive quarters. State Final Demand
is the spending on fully finished products by households, firms and
governments.
The
Victorian State Government is predictably arguing that State Final Demand is
only one of the ways of measuring state performance and they are confident of
on-going growth once you include state exports like tourism and agriculture.