The great Australian lie

Talk of an income recession is quite simply misguided. The bottom line is underlying economic growth is probably still rising at an above trend pace.

Readers will already be aware that Australia is now gripped by an income recession. What’s interesting about this is the fact that we’re actually not in such a recession at all.

The chart below shows Australia’s national income growth over the last 14 years and as you can see, it is very much around trend. Indeed, the idea that we’re in some sort of income recession is, quite simply, a lie.

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