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The Institute of Public Affairs (IPA) published the following chart, derived from the Australian Bureau of Statistics (ABS) national accounts, showing that the Albanese government is the first in modern history to preside over a fall in GDP per capita.
“Per capita real gross domestic product has grown by less than zero (-0.49%) in real terms since the start of the Albanese government in the June quarter of 2022”, Dr Kevin You, Senior Fellow at the IPA, noted.
“Ten out of the fifteen full quarters under the Albanese government has experienced a fall in per capita real economic output”.
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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.
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