In contrast, there has been little job creation in the goods-related industries over recent years. This picture of our economy adjusting reasonably well to the changed circumstances is also evident in a number of other indicators. Over recent times, most business surveys have suggested that conditions have been around, or a little above, average.
Business credit growth has picked up after having been subdued for quite a while. And last week's national accounts confirmed that growth in household spending has also picked up.