Under rising resource boom this could be an irony.
But it appears the experts are saying the East Coast is under recession specially series of natural disasters in Queensland
I have provided extract from Southern Cross Equity - No one else Charlie Aitken who was the only one predicted FMG rise when everyone thought it was a No No.
Some of the quotes from his newsletter:
"Let us be clear - The East Coast of Australia is in a recession. No bank economist dares write it but it is clear to us that we are in what feel, smells and looks like an East Coast recession, yet the data hasn't confirmed it. We all have been hiding behind the words "two speed economy" when the reality is we are dealing with an East Coast recession. Just like stockbrokers hate using the S word, economists particularly bank economists, find it very hard to use the R word."
The Sothern Cross Equity newsletter is a paid subscription and under copyright. So I cannot provide more reproduce here quoting the newsletter. The four pages long newsletter has put some convincing numbers to support it.
DYOR: I am not claiming to be an expert on any of the matters Charlie has stated excepting I value his opinion and research much more than lot of xxxx paid newsletters .