Finance Sector Key To Economic Prosperity

Taylee Lewis, InvestorDaily

In a report titled Financial Sector Growth, Capital Formation and Productivity, AFMA pointed out that there is a significant link between the finance sector, investment and Australia’s economic prosperity.

AFMA economist Stephen Kirchner said: “The rising share of financial services as part of Australia’s national income is a long-term and global phenomenon that’s likely to continue.”

The report indicated that the financial and insurance services sector is the largest of the 12 industries that make up the market sector of the Australian economy. The sector has a 9.9 per cent share of output compared to the next largest sector, mining, with a share of 9.8 per cent.

The rest of this article can be found at investordaily.com.au.