The RBA has released an economic snapshot of the economy today which shows what they consider to be the key stats we all need to know.
But the thing that might strike many as remarkable is that for all the talk of the mining boom, the mining investment boom and the surge in construction that the economy needs to help its transition, what’s important on this infographic is on the bottom right-hand side – the share of the services sector in the economy.
57% of all economic activity in Australia is services!
It’s why the release of today’s AiG Services PMI, which showed another fall, was so disappointing.
Here is the infographic in full:
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