Joe Hockey’s ‘clowns’ comment may advance back to haunt him as defence and housing sector were the only bright spots in a gloomy picture of the economy The latest outrageous domestic product (GDP) figures show just how dependent Australia is on exports,and that when they drop away, so too finish any hopes of strong (or even average) economic growth.Three months ago, or when the March GDP figures showed surprisingly strong growth,Joe Hockey suggested that those who believed there were “dark clouds on the horizon” were “clowns. Related: Economic management is now Tony Abbott's weakest claim to re-election | Stephen Koukoulas Related: Australia's economy: is the lucky country running out of luck? Continue reading...
Source: theguardian.com