Editing Economy of Australia (section)

===Regional differences===
Between 2010 and 2013, much of the economic growth in Australia was attributed to areas of the country where mining- and resource-based industries and services are mostly located. Western Australia and the [[Northern Territory]] are the only states that have economic growth.<ref name="recession">{{cite web|url=https://www.dfat.gov.au/geo/fs/aust.pdf|title=Economy grows but some non-mining states in recession|url-status=dead|archive-url=https://web.archive.org/web/20060824020854/https://www.dfat.gov.au/geo/fs/aust.pdf|archive-date=24 August 2006}}</ref><ref>{{cite news|author=Tim Colebatch|url=https://www.smh.com.au/business/state-close-to-recession-20120307-1ukme.html|title=State close to recession|work=The Sydney Morning Herald|date=8 March 2012|access-date=25 July 2012}}</ref><ref>{{cite news|author=Tim Colebatch|url=https://www.smh.com.au/opinion/politics/no-place-for-political-stunts-in-tackling-economic-crisis-20120604-1zs23.html|title=No place for political stunts in tackling economic crisis|work=The Sydney Morning Herald|date=24 October 2009|access-date=25 July 2012}}</ref> During 2012 and 2013 [[Australian Capital Territory]], [[Queensland]], [[Tasmania]], South Australia, [[New South Wales]] and [[Victoria (Australia)|Victoria]] experienced recessions at various times.<ref name="recession"/><ref>{{cite magazine|url=http://www.crikey.com.au/2012/06/08/tasmanian-recession-not-at-david-walshs-bizarre-world-of-art/|title=David Walsh: MONA economic benefits for Tasmania|magazine=Crikey|date=8 June 2012|access-date=24 July 2012}}</ref><ref>{{cite web|url=http://www.adelaidenow.com.au/recession-biting-our-state-bank-warns/story-e6frea6u-1226317963456|archive-url=https://web.archive.org/web/20120406061828/http://www.adelaidenow.com.au/recession-biting-our-state-bank-warns/story-e6frea6u-1226317963456|url-status=dead|archive-date=6 April 2012|title=South Australia is in recession, Westpac warns|work=The Advertiser|location=Adelaide|date=4 April 2012|access-date=24 July 2012}}</ref><ref>{{cite web|url=http://www.dailytelegraph.com.au/news/rate-cut-may-save-nsw-sliding-into-recession/story-e6freuy9-1226390009700|title=Rate cut may save NSW sliding into recession|work=The Daily Telegraph|location=Australia|date=10 June 2012|access-date=24 July 2012|archive-date=18 January 2021|archive-url=https://web.archive.org/web/20210118170046/https://www.dailytelegraph.com.au/news/rate-cut-may-save-nsw-sliding-into-recession/story-e6freuy9-1226390009700?nk=752a498e4a5c83b35834743b52b63fcc-1610989246|url-status=dead}}</ref><ref>{{cite news|url=http://www.news.com.au/business/victoria-in-a-state-of-decay/story-e6frfm1i-1226296709689|work=Herald Sun|location=Australia|title=Victoria in a state of decay|date=10 March 2012|url-status=dead|archive-url=https://web.archive.org/web/20120702160447/http://www.news.com.au/business/victoria-in-a-state-of-decay/story-e6frfm1i-1226296709689|archive-date=2 July 2012}}</ref><ref>{{cite web|url=http://www.melbournetimesweekly.com.au/news/national/national/general/state-close-to-recession/2481890.aspx|title=State close to recession – National News – National – General|work=Melbourne Times Weekly|date=8 March 2012|access-date=24 July 2012}} {{dead link|date=July 2017 |bot=InternetArchiveBot |fix-attempted=yes}}</ref> The Australian economy is characterised as a "two-speed economy".<ref>{{cite news|url=http://www.theaustralian.com.au/business/economics/reserve-bank-governor-says-australia-has-long-had-a-two-speed-economy/story-e6frg926-1226389046980|first=Adam|last=Creighton|title=Reserve Bank governor says Australia has long had a two-speed economy|date=8 June 2012|work=The Australian}}</ref><ref>{{cite news|url=http://www.brokernews.com.au/article/hia-bursts-swans-economic-bubble-129795.aspx|title=HIA bursts Swan's economic bubble|access-date=13 May 2014|url-status=dead|archive-url=https://web.archive.org/web/20120701232824/http://www.brokernews.com.au/article/hia-bursts-swans-economic-bubble-129795.aspx|archive-date=1 July 2012}}</ref><ref>{{cite news|url=https://www.smh.com.au/business/the-economy/banking-made-tricky-by-10speed-economy-clyne-20120814-245rb.html|work=The Sydney Morning Herald|title=Banking made tricky by '10-speed' economy: Clyne|date=14 August 2012}}</ref><ref>{{cite news|author=Tim Colebatch|url=http://www.theage.com.au/opinion/politics/no-place-for-political-stunts-in-tackling-economic-crisis-20120604-1zs23.html|title=No place for political stunts in tackling economic crisis|work=The Age|date=24 October 2009|access-date=24 July 2012|location=Melbourne, Australia}}</ref><ref>{{cite news|url=http://www.stuff.co.nz/taranaki-daily-news/news/7072872/Flow-across-Tasman-tipped-to-reverse|title=Flow across Tasman tipped to reverse|publisher=Stuff|location=New Zealand|date=9 June 2012|access-date=24 July 2012}}</ref><ref>{{cite web|url=http://www.abc.net.au/news/2012-06-07/warning-to-tone-down-recession-row/4057108|title=Warning to drop recession row|publisher=Australian Broadcasting Corporation|date=7 June 2012|access-date=24 July 2012}}</ref><ref>{{cite web|url=http://www.themercury.com.au/article/2012/06/07/335121_tasmania-news.html|archive-url=https://archive.today/20121231020612/http://www.themercury.com.au/article/2012/06/07/335121_tasmania-news.html|url-status=dead|archive-date=31 December 2012|title=Giddings rejects figures|work=The Mercury – The Voice of Tasmania|date=7 June 2012|access-date=24 July 2012}}</ref>{{Clarify|date=December 2024}} From June 2012 to March 2013 Victoria experienced a recession. In 2012 the [[Government of Victoria]] cut 10% of all jobs in the public service.<ref>{{cite web|url=http://www.wsws.org/en/articles/2013/03/07/bail-m07.html|title=Australia: Victorian premier removed as state slides into recession|work=WSWS.org|date=7 March 2013|access-date=13 May 2014}}</ref><ref>{{cite web|url=http://www.melbournetimesweekly.com.au/story/1345419/victoria-sa-tasmania-slide-into-recession/?cs=12|title=Victoria, SA and Tasmania slide into recession|work=Melbourne Times Weekly|access-date=13 May 2014|url-status=dead|archive-url=https://archive.today/20130410014323/http://www.melbournetimesweekly.com.au/story/1345419/victoria-sa-tasmania-slide-into-recession/?cs=12|archive-date=10 April 2013}}</ref> The period since has seen these trends reversed with Western Australia and Northern Territory, who are heavily dependent on mining, experience significant downturns in GDP while the eastern states returned to growth, led by strong upturns in NSW and Victoria.<ref>{{cite web|url=https://www.commsec.com.au/content/dam/EN/ResearchNews/CommSec_State_of_the_States_July2016.pdf|title=Commsec state of the states, 2016}}</ref>