Sources: ABS; RBA. Unfortunately, this growth in productivity appears to have slowed substantially more recently. Perhaps this is partly a measurement problem, since the large shifts we have seen in the composition and pricing of output in recent years may have complicated the measurement task.
Some of the slowdown in productivity is also a reflection of the economy being relatively fully employed in recent years. It is also possible, however, that the slowing in productivity growth is due to the fading effects of the earlier economic reforms.