Economic Update
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  Running Time: 5:42 Date: 01/05/2012 All eyes on the Federal Budget, but what really matters once the hype's stripped away? The hype and speculation surrounding this year's Federal Budget - with the Government insisting it can produce a surplus for 2012-13- threatens to cloud rational assessment of the state of the economy, and its prospects. Respected economist Professor Neville Norman of Melbourne University says our underlying economic growth, now proceeding at a slower pace than in many other developed countries, is a key indicator of the state ofbusiness. What willmatter most is when signs of an uplift start to emerge and how business people react. And an uplift is coming, says Professor Norman, whether the Reserve Bank cuts interest rates or not. Topics: Economy |
 Professor Neville Norman, Melbourne University |