Daves2017 wrote on Nov 25
th, 2024 at 6:39pm:
Well done Albo labor!
The Albanese government is presiding over the longest household recession with GDP per capita going backwards for the past six quarters, in a trend that exceeds any period in the past 50 years and economists warn is likely to continue.
https://content.api.news/v3/images/bin/3a55cc1e17ba220acd46c3759a10edcc?width=10...Real household disposable income has fallen by 9 per cent since March 2022.
According to the new analysis there has been a 1.6 per cent fall in GDP per capita since December 2022 across six consecutive negative quarters.
Of the eight quarters since Dr Chalmers became Treasurer, GDP per capita has fallen in seven.
Opposition Treasury spokesman Angus Taylor said the current household recession was without precedent.
“Under the Albanese Labor government, Australia is experiencing the longest household recession on record,” Mr Taylor said. “GDP per capita has gone backwards for the past six consecutive quarters. This is completely unprecedented.”
Mr Taylor said Labor was “blind to the storm ahead”.
“The only thing propping up our economy right now is migration and government spending,” he said.
https://www.theaustralian.com.au/nation/politics/labor-presiding-over-longest-ru...