Advice on legislation or legal policy issues contained in this paper is provided for use in parliamentary debate and for related parliamentary purposes. This paper is not professional legal opinion.
Briefing Paper No. 14/2007 by J. Wilkinson
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- since 1998-1999, when the rate of growth of New South Wales Gross State
Product (GSP) was approximately 5% per annum, the rate of growth of GSP has
dropped to around 2% or under between the years 2003-2004 and 2006-2007
(pp.19-20)
- on the surface, the vicissitudes of hosting an Olympic Games appear to have
contributed to the slump in activity (pp.6-10,14-16)
- the housing boom (and its accompanying bust) have also contributed to a
slowdown (pp.10-14,16-17)
- a further (underlying) contributing factor has been the shrinking of
manufacturing as a contributor to Gross State Product (pp.1-6)
- the state also records a significant deficit of imports over exports
(pp.17-19)
- while manufacturing has shrunk, both the property and business services
sector, and the finance and insurance sector, have expanded rapidly:
providing a broadly compensatory influence (pp.20-30)
