Sue Neales, Mercury

But ANZ chief economist Saul Eslake said there was “almost no way” the forecast economic growth rate of 3.5 per cent could be achieved in the face of the sharp slowdown. Without a continued boom in the Tasmania’s economy, the Government will be forced to tighten its belt. “I’m reluctant to use the term recession yet myself, but you would not be incorrect if you chose to do so,” Mr Eslake said yesterday. “The figures do show that Tasmania is trending all the wrong way, and faster and more sharply than other states. Its economy is clearly slowing a lot.”

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