The Australian’s Adam Creighton believes Australia is almost certain to plunge back into a per capita recession due to the coronavirus:
That’s the definition of a recession that relates to living standards, not the definition the government prefers, which implies India — with a larger overall GDP — is a better place to live than Australia.
We don’t have the figures for the final quarter of last year yet, let alone the current one, but in September — long before bushfires and coronavirus emerged — the economy was struggling to outpace population growth.
