Average GDP growth since 1972

It is always interesting to superimpose facts over perceptions and one that springs to mind is the perception that the Coalition side of politics are better at economic management than Labor.

With the horrid September quarter GDP result today, I thought it useful to dust off the average quarterly GDP results of each government since 1972.

You draw your own conclusions.

Average quarterly GDP

Abbott/Turnbull      0.58%

Rudd/Gillard          0.62%

Howard                 0.89%

Hawke/Keating      0.90%

Fraser                   0.54%

Whitlam                0.76%

Note that in today’s dollar terms, 0.01% difference on GDP is approximately $42.3 million per quarter or $170 million a year.