Gareth Spence

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154 appearances 1 recordings 1 series first heard Oct 2025 last heard 31 Oct

Gareth Spence’s voice in public audio — every appearance, attributed to the second.

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NAB Morning Call · Weekend Edition: The Tasman Divide · 31 Oct 2025 podcast

the exports from those industries came online through the 2010s.

But really, you know, like kind of the same as previous terms of trade cycles and kind of mining booms that we've seen in Australia, you know, as as those mines age and we have to dig deeper and further to get the coal or the iron ore, you know, actually we become a little bit less productive.

So certainly, you know, kind of pretty soft productivity growth, call it roughly zero over the

last couple of years for Australia, I think we're still in in a level sense in productivity back around we were in twenty sixteen.

Um and that's not good.

Uh but if we do split it out, right, so we kind of look, you know, abstract from from that services growth and and kind of the mining growth, you know, we look at our kind of other kind of core market sectors, you know, it is a little bit stronger, probably closer to half a percent, I think, is is the latest stat.

You know, that's that compares to something that was certainly a lot stronger over recent decades of one or one and a half if we go even further back.

But, you know, it is soft and and we're looking for it.

Um, you know, as as Doug said, it is it is the holy grail.

It is something we get asked.

We say it a lot as economists and it's quite a nebulous concept.

Um, obviously, you know, what are the hard things we can do to kind of bring it back?

Um, and you know, that is that is the challenge for us.

I don't think so.

I think, you know, there's certainly elements of what Doug's talking about in New Zealand.

You know, we've had some weather disruptions in mining, uh, you know, certain areas in in the country in terms of the housing stock as well, and you've got to rebuild.

Um, I think I agree entirely.

I think, you know, uh originally back when you had Virginia Christie on your podcast about kind of the energy transition and then what needed to be done.

I think one stat that really sticks out with me is, you know, kind of you know, in WA alone, for example.

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