So in popular terms, we might say that there are varying lanes on the global growth highway: fast, slow, very slow. There are a few economies in the breakdown lane. Turning to Australia, we have long had a multi-speed economy.
For example, it has been a very long-running trend that population growth tends to be faster in Western Australia and Queensland than in Tasmania or South Australia. Typically, certain industries such as housing construction show the expected differences due to population growth.