Weekend Edition: Fixing Australia’s productivity problem

Friday 25th August 2023

Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.

Australia’s falling productivity is in focus as we emerge from the pandemic. The Productivity Commission has provided recommendations for helping resolve the issue, and earlier in the week the Business Council released its ‘Seize the Moment’ report about how the government and private sector can grow the economy. But how much of the fall in productivity is simply the transitional impact from a rise in the services sector. It’s a question Phil Dobbie puts to Melissa Wilson, Senior Economist (NSW) at the Committee for Economic Development of Australia (CEDA). They discuss how productivity gains can come from businesses across all sectors, and a part of it comes from a more adaptable approach, highlighted in CEDA’s recent Dynamic Capabilities report. So, whilst an industrial strategy for Australia would be useful, a lot of work can come from businesses taking a look at the way they operate. On that point, Melissa provides some useful insights on ‘The Weekend Edition’. 

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