Real GDP grew a solid 3.1% in the year to June 2014, close to the past two decade growth average of 3.3%. Yet we all live, earn, and make profits in the nominal economy and here growth in GDP and employment is around half its past two decade average. This is largely because commodity prices and our terms of trade with the rest of the world are falling. So if the economy “feels” below average you’re probably right.
Read the full report: Market Research