Economic distress indicators – September 2024

KPMG's latest EDI statistics pack for September 2024 presents the continuation of rate and cost of living pressures, notwithstanding a reduction in CPI to 2.7 percent for the 12 months to August 2024, the lowest result in three years.

June quarter GDP rose just 0.2 percent, again thanks to population growth and high government spending, with Australia experiencing a GDP per capita recession for six quarters now. GDP only rose 1 percent in FY24, the lowest level of growth since the early 1990s recession. Insolvencies in July 2024 were down on the record high in May 2024, but remain more than 50 percent above pre-COVID levels (Dec-19). Construction and Accommodation and Food Services continue to the industries under most ...

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Authors: Gayle Dickerson

Published Date: 01 October 2024