It is not surprising therefore that growth of the economy over the latest year for which data are available was 2.6 per cent, or an annualised rate of 3 per cent for the latest half-year.
Business investment has been a major driver of growth in recent years, expanding by 18 per cent over the past year, and at an average annual rate of 14 per cent over the past three years. The upswing in business investment is being stimulated by high commodity prices and favourable financial conditions.