Posted 06 June 2013 - 08:29 AM
Dafuq,
"Western Australia, the engine room of Australia's growth in recent years, is now in recession.
Growth in the mining state remained contracted for the second consecutive quarter as the national economy expanded 0.6 per cent in the first quarter of 2013, reflecting the peaking of resources investment, but a shortfall in the expansion of other sectors, analysts said.
''It drives home the point that the peak in resource investment and capital expenditure will occur later this year, and perhaps we are already seeing preliminary signs of that,'' JPMorgan economist Tom Kennedy said."