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On Wednesday, I posted charts showing the record decline in Australian real per capita household disposable income.
Annual real per capita household disposable income fell for a record tenth consecutive quarter, down 8.1% from the Q2 2022 peak.
The magnitude of this decline is illustrated in the following chart, which compares the current episode against prior downturns.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.