Australians have been trapped in a long, drawn-out per capita recession.
As the following chart illustrates, Australia’s per capita GDP has recorded nine declines in the past 11 quarters.
While the cumulative 1.7% decline in real per capita GDP is rather shallow compared to the early-1980s and 1990s recessions, it is the longest-running slump in modern records, dating back to the 1970s:
Advertisement
