Elliott Clarke's commentary on the local economy.
You've all heard of GNP (Gross National Product)?
Well honestly how could you avoid this widely used measure of how a country's doing internationally. There are rankings for 228 countries and, when the figures are adjusted for purchasing power, Australia ranks Number 18 with our average earnings being $41,000 p.a.
The business landscape has changed. As the recovery kicks in, many companies are ramping up sales and marketing and putting on staff so they won't be caught short when the economy is thriving again. Expansion is back on the agenda.
In a heavily, traditional, dark, wood room in Steve Forbes townhouse in New York, I sat with about 40 US CEOs to dine and discuss the state of US and Australian economic growth, relations with China and of course the upcoming Forbes CEO Conference that will be held in Sydney in September this year.
Have you wondered why the pre-election campaigning has been so dull? The buzz on the street has certainly suggested so.
On August 31st as the now Prime Minister was still deep in conversation with the three Independents, Bob Katter, Rob Oakeshott and Terry Windsor, I was at lunch with Bill Evans, Westpac's senior economist, and a roomful of hi-energy women in Melbourne.