Australia falls into per-capita recession as growth tumbles
Australia’s economy has slumped.
Without migrants fuelling consumption, Australia’s economic growth would be going backwards.
The final two results of this term of government show the Coalition will finish its term presiding over a slowing economy.
Frydenberg “drought, lower mining investment and a decline in residential construction activity were to blame”
Government spending was the major driver, with public investment remaining at high levels particularly through large infrastructure projects funded by the NSW and Victorian governments.