‘The data’s worse than what the headlines suggest’: Australia enters per-capita recession

Australia is now in a per-capita recession following the release of economic figures yesterday.

Chief economist and co-founder of MacroBusiness, Leith van Onselen, says the last financial year saw a growth of 1.5 per cent.

“The data’s worse than what the headlines suggest … household consumption, once you adjust for population growth, actually fell,” he told Tom Elliott.

Press PLAY to hear why he thinks the data is worse than what it sounds

He also says Australia’s economy has been bad for the last twenty years but immigration rates covered it up.

“It’s hid the very poor performance of the Australian economy,” he said.

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