Why Australia’s economic activity is virtually at a standstill

Seasonally-adjusted real GDP grew in the December quarter by only 0.2 percent, compared to a slightly revised up value of 0.3 percent for the September quarter in 2023, as analysed by Brendan Rynne.

The latest gross domestic product (GDP) figures for the final quarter of 2023 have confirmed what we knew - that growth is weak and patchy across the country. It also confirmed that economic activity in aggregate is virtually standing still and continuing to go backwards on a per capita basis. Seasonally-adjusted real GDP grew in the December quarter by only 0.2 percent, compared to a slightly revised up value of 0.3 percent for the September quarter in 2023. The largest contribution to th...

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Authors: Brendan Rynne

Published Date: 07 March 2024