Chris Bowen (McMahon, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

My question is to the Treasurer. Why was there zero growth in domestic demand in the March quarter, and why was there zero growth in retail trade in April?

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

In relation to retail, it has increased in 10 of the last 11 months, which is pretty encouraging. Retail sales over the past 12 months of this government are 8.3 per cent higher than they were in the last 12 months of Labor, and they have increased in 10 of the last 11 months. In his question, the member for McMahon is jumping between datasets and jumping between months. The bottom line is that Labor constantly talks down Australia. It is no surprise. They do not quite get it. But do you know what? I am very proud of my country, and I am very proud of where the economy is going.

Mr Bowen interjecting—

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

The member for McMahon has asked his question and will remain silent.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

As an example, out of the data that came out of the national accounts yesterday, bear in mind that in the last quarter we had 0.9 per cent growth. In the last quarter the United States had -0.2, Japan had 0.6, Germany had 0.3, France had 0.6, the United Kingdom had 0.3, Italy had 0.3, Canada had -0.1, Korea had 0.8, Taiwan had 0.7, Hong Kong had 0.3 and Singapore had 0.8. We were faster than all of those countries, and the Labor Party is upset about it. Shame on the Labor Party!