National Agenda
Key economic indicators causing concern for Australia
Wages are stagnant. Wealth is falling. House prices are down. Consumers aren’t spending. Businesses aren’t investing. Interest rates are at record lows and may be heading for zero.
- Australia has experienced very slow growth, a sign of the weakness of Australia’s growth model and the failure of trickle-down policies.
- Australia has managed to avoid recession for a record-breaking 28 years, but this run of good fortune cannot continue indefinitely.
Takeout
The expectation that we are going to get richer and richer as a nation is being challenged by a bleak economic outlook and a per-capita recession, which is not being experienced in any other developed economy. The economy will need to be reformed, diversify or change its focus on exponential growth in order to recover.Source: The Guardian - The no-growth future: has Australia’s economy finally run out of luck?
