Economics
Central Sydney Now Fueling Quarter of Aussie Economic Growth
- Stark growth divides are greater than during mining boom
- GDP data show 1.1% national growth in fourth quarter of 2016
This article is for subscribers only.
Inner districts of Sydney drove almost a quarter of Australia’s expansion last fiscal year, underscoring the city’s pre-eminent position in the nation’s economy.
The area stretching from Sydney’s central business district to Macquarie Park north of the center made up 24 percent of GDP growth in the financial year through June 2016, according to consultancy SGS Economics & Planning. Inner Melbourne contributed 11.4 percent as Australia’s east coast cities perform in a similar fashion to their impact on the property market.