Australian GDP growth hides decade of private sector going nowhere

When attempting to assess the performance of the Australian economy, simply looking at headline figures doesn’t really tell you anything about how the average household is faring.

After more than two decades of outsized migration relative to the norms seen between the 1980s and early 2000s, the headline rate of GDP growth increasingly bares little resemblance to the fortunes of the average Australian.

When you begin to delve beyond the headline figures, the picture begins to look dramatically less favourable.