Australia is officially in recession with the biggest ever contraction in GDP, despite a huge rise in government spending. But profits are doing nicely.
Yes, Australia is undergoing a serious economic contraction. No, yelling 'recession' doesn't help. And for our exporters, things aren't too bad at all.
With households and business keeping their wallets shut, only the mining industry and government spending is keeping the economy ticking over. Substantial stimulus is needed both to protect against the coronavirus downturn and lift growth beyond its current insipid level.
Josh Frydenberg says there are "domestic challenges" to economic growth. The main challenge is one he and his government has created, and it's smashing the economy.
Scott Morrison has been hysterically talking about a Labor recession. Instead, the economy has stalled since he became prime minister.
Yes, there was a "GDP per capita recession" in the second half of 2018. But no, we shouldn't be emphasising it.
Lack of wages growth is weighing on the economy, which is performing worse than expected, so much so an interest rate cut may be coming.
In his first speech, the new Treasury Secretary has completely ignored the biggest policy and political challenge the government faces: wage stagnation.
While the economy continues to rack up moderate growth, there are some weak points.