One of our regular and valued bloggers, Homer, has regularly made the following statement:
I know understanding facts is foreign to you but if you actually understood how to look at economic statistics you would find that when Howard won office the period of economic growth was the longest period since the war. Hint other periods were curtailed by negative growth. Another hint it doesn’t start at 1990.
Since this is an assertion of fact, I thought it would be helpful to check.
The National Accounts are the official source of economic growth (GDP) statistics. There are the quarterly (cat no. 5206.0) and annual (cat no. 5204.0) versions.
Taking first the quarterly national accounts, and treating the March quarter 1996 as the start of the Howard Government we observe the following quarterly chain volume growth rates:
So the immediately preceding quarter was negative.
And until the 1990 recession we had the following run:
So clearly, on the basis of quarterly GDP growth, when Howard won office was most certainly NOT the longest period of economic growth since the war.
Annual National Accounts
Now taking the Annual National Accounts, we find the following run of economic growth to June 1996 which is close enough to when Howard took office.
Now from June 1961 to June 1982 there was an uninterrupted run of 22 years of positive economic growth. And last I checked, 1961 was after the war.