https://thewest.com.au/business/economy/bureau-of-statistics-data-shows-australian-economy-slowing-dramatically-just-months-out-from-election-ng-b881127079z
Australia’s economy has slowed dramatically, just months out from the Federal election.Figures show the annual rate of GDP growth has fallen from 2.8 per cent to just 2.3 per cent.
The economy has also entered a so-called “GDP per capita” recession for the first time since 2006 – thirteen years ago – with the population growing faster than the economy for the last six months, causing living standards to decline.
Economists say the data paints a “bleak picture” of the economy, with the housing downturn and weak business confidence from the end of last year continuing into 2019, so the Reserve Bank will have to reconsider its optimistic outlook.
