Advertisement
This month’s national accounts from the Australian Bureau of Statistics (ABS) reported that the economy is sliding back into a per capita recession, with real per capita GDP declining by 0.1% in the March quarter – the 10th decline in 15 quarters since the Albanese government came to office:
The Westpac-Melbourne Institute leading index has been released, which indicates the likely pace of economic activity relative to trend three to nine months into the future.
The six-month annualised growth rate remained weak at –0.17% in May, suggesting slugging momentum into the second half of 2026:
Advertisement
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.
Advertisement