2017年 03月 08日

Melbourne continues to boom, helping drive national economy

Melbourne continues to boom and is helping to drive the national economy, new data has revealed. The inner city is providing almost 500,000 jobs and pitching in 11.4 per cent of the national GDP. Only central Sydney and its inner south was contributing more.

Modelling by SGS Economics and Planning also found that the growth areas of Melbourne’s west and southeast were also contributing to Australia’s prosperity. But the outlook was not so sunny in parts of regional Victoria. Economic analyst Terry Rawnsley said the stark contrast between growth rates across the country was greater now than at any time during the mining boom.

Melbourne contributed 28.4 per cent of all Australian GDP growth in 2015-16, the highest on record. The growth corridors of the west and southeast were also significant contributors to the growing economy.