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canada goose store outlet But to explain much of the quarter to quarter volatility in GDP growth in terms of misallocation and wild weather doesn’t alter the fact that, when you add up the four quarters, you get only to utterly weak annual growth of 1.7 per cent.One major component of growth that’s unlikely to be affected by either factor is consumer spending. It’s been unusually weak in all quarters bar December, growing by a pathetic 1.3 per cent over the year to March.And this despite households cutting back their rate of saving from 6.9 per cent of household income to 4.7 per cent over the year.This weakness in consumption ain’t hard to explain: growth in household income has been held back by weak growth in employment and, more particularly, negligible growth in real wages, notwithstanding a 1.2 per cent improvement in the productivity of labour over the year.Real labour costs per unit a measure of the race between real Cheap Canada Goose wages and labour productivity fell 1.7 per cent in the quarter and 6.3 per cent over the year to March.Wanna know why the economy’s growth is so weak? You won’t finda more powerful explanation than that.Remember, however, that the weakness isn’t spread equally across the country.Mining still bustingState final demand is a poor substitute for gross state product, but the best we get each quarter. Across the whole economy, domestic final demand also grew by 1.7 per cent over the year to March.But state final demand grew by 4.5 per cent in Victoria, 3.3 per cent in South Australia and Tassie, an above par 1.9 per cent in NSW, and a below par 1.6 per cent in Queensland.Now get this: in Western Australia, final demand contracted by 6.6 per cent canada goose store outlet.

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