Another interesting article was written by the doyen of economic commentary Ross Gittins this weekend, in which he points out that the economy will look better once mining investment stops falling.
Yet as highlighted by Gittins, despite this ongoing contraction the economy managed to grind out GDP growth of 2.5 per cent, helped by net exports and an increase in dwelling construction. Indeed, the non-mining economy grew by about 3 per cent.
I took a more detailed look at the components of GDP growth (and the troublesome decline in the terms of trade) over the year to September 2015 here.
Mining investment won't fall forever
The good news noted by Gittins is that resources investment cannot continue to decline forever, and sooner or later the nadir will be reached.
This was a significant improvement on the -1.3 per cent decline in Queensland state final demand in the June 2015 quarter, and hearteningly the largest part of the decline in engineering construction activity is now in the rear view mirror.
A look at the latest International Trade figures shows that over the past three months Queensland has produced a positive trade balance of $1.2 billion per month, after churning out several negative prints in 2014.
The biggest unknown factor is what will happen to commodity prices over the years ahead.
Queensland's economy has been through a rough trot since 2013 as resources investment has nosedived, knocking it down to sixth spot in the state rankings.
However, things should begin to pick up in time, and although population growth from net overseas migration has slowed, Queensland will be one of only two states (the other being Victoria) to benefit from net interstate migration, particularly as more Sydneysiders opt to make the journey north.