Australia has long been known for its prosperous economy, with many calling it “The Lucky Country.” But that luck may be starting to change. While the overall economy is not in recession, its people are.
The country’s GDP per capita fell for 21 consecutive months. Household disposable income is going down, while household debt is going up. The cost of living crisis will likely be front-and-center in federal elections.
00:00 Introduction
01:00 Miracle economy
02:43 Per capita recession
03:18 Cost of living
05:31 Housing shortage
06:37 Productivity
07:53 Challenges ahead
#australia #economy #business
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