Melbourne drives nation’s growth
Melbourne is responsible for almost a third of Australia’s economic growth, a report has found. Australia’s two most populated cities, Melbourne and Sydney, were responsible for more than half of Australia’s gross domestic product growth in the financial year ending in 2016 while regional areas continued to languish. The Australian Cities Accounts report, released by Melbourne-based firm SGS Economics and Planning on Tuesday, found that Melbourne drove 28.4 percent of Australia’s GDP growth in 2015-16, the highest figure ever recorded for an Australian city. Terry Rawsley, an economist at SGS Economics and Planning, said that while Melbourne continued to thrive, regional Victoria’s growth fell by 1 percent, representing a fourth consecutive year of decline.