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Since the Middle East conflict kicked off at the end of February, there has understandably been a great deal of focus on how the war, the throttling of traffic through the Strait of Hormuz and potential fuel shortages will impact the Australian economy.
But it’s worth taking a step back to assess how the economy was faring before the first shots were fired in the Persian Gulf.
According to the Commonwealth Bank Household Spending Indicator, spending fell in aggregate in February, marking a major departure from recent years’ performance.
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About the author
Tarric is an Australian freelance journalist and independent analyst who covers economics, finance, and geopolitics. Tarric is the author of the Avid Commentator Report. His works have appeared in The Washington DC Examiner, The Spectator, The Sydney Morning Herald, News.com.au, among other places.