In the years since pandemic-driven stimulus and ‘revenge spending’ began to feed out of the economy in the September quarter of 2022, Australia’s economy has, in headline terms, continued to grow decently enough.
It’s hardly been stellar, with the economy achieving cumulative growth of just 4.63% since the June quarter of 2022, but the ‘Lucky country’ has once again avoided a recession in headline terms.
The issue for the Australian people is that while the headline economy has continued to grow, GDP per capita has been going backwards.
